.......upon startup, tons of output......
trace: receive(): snmpd.c, 1140:
snmpd/select: returned, count = 0
trace: run_alarms(): snmp_alarm.c, 251:
snmp_alarm: run alarm 2
trace: netsnmp_cpu_get_byIdx(): mibgroup/hardware/cpu/cpu.c, 58:
cpu: cpu_get_byIdx -1 (found)
trace: netsnmp_cpu_get_byIdx(): mibgroup/hardware/cpu/cpu.c, 58:
cpu: cpu_get_byIdx 0 (found)
trace: run_alarms(): snmp_alarm.c, 253:
snmp_alarm: alarm 2 completed
trace: snmp_sess_select_info(): snmp_api.c, 5875:
sess_select: for all sessions: 11 7 
sess_select: next alarm 4.999410 sec
verbose:sess_select: timer due in 4.999410 sec
verbose:sess_select: setting timer to 4.999410 sec, clear block (was 0)
trace: receive(): snmpd.c, 1136:
snmpd/select: select( numfds=12, ..., tvp=0xffffffffffff3190)
trace: receive(): snmpd.c, 1138:
timer: tvp 4.999410


last output from snmpwalk -v 1 -c test localhost
IF-MIB::ifOutErrors.3 = Counter32: 0
IF-MIB::ifOutErrors.4 = Counter32: 0
IF-MIB::ifOutErrors.5 = Counter32: 0
IF-MIB::ifOutErrors.6 = Counter32: 0
IF-MIB::ifOutQLen.1 = Gauge32: 0
IF-MIB::ifOutQLen.2 = Gauge32: 0
IF-MIB::ifOutQLen.3 = Gauge32: 0
IF-MIB::ifOutQLen.4 = Gauge32: 0
IF-MIB::ifOutQLen.5 = Gauge32: 0
IF-MIB::ifOutQLen.6 = Gauge32: 0
IF-MIB::ifSpecific.1 = OID: SNMPv2-SMI::zeroDotZero
IF-MIB::ifSpecific.2 = OID: SNMPv2-SMI::zeroDotZero
IF-MIB::ifSpecific.3 = OID: SNMPv2-SMI::zeroDotZero
IF-MIB::ifSpecific.4 = OID: SNMPv2-SMI::zeroDotZero
IF-MIB::ifSpecific.5 = OID: SNMPv2-SMI::zeroDotZero
IF-MIB::ifSpecific.6 = OID: SNMPv2-SMI::zeroDotZero
Timeout: No Response from localhost

after snmpwalk craps out, on snmpd command line:
subtree: found one for: ""
trace: vacm_check_view(): mibgroup/mibII/vacm_conf.c, 1414:
mibII/vacm_vars: vacm_in_view: sn=comm1, gn=grpcomm1, vn=_all_
trace: netsnmp_view_subtree_check(): vacm.c, 525:
9:vacm:checkSubtree: view _all_
trace: netsnmp_view_subtree_check(): vacm.c, 562:
9:vacm:checkSubtree:  _all_ matched?
trace: netsnmp_view_subtree_check(): vacm.c, 623:
9:vacm:checkSubtree:  (null) matched
trace: netsnmp_view_subtree_check(): vacm.c, 646:
vacm:checkSubtree: , included
trace: snmp_call_callbacks(): callback.c, 330:
callback: END calling callbacks for maj=1 min=12 (1 called)
trace: _callback_unlock(): callback.c, 150:
9:callback:lock: unlocked (APP,null)
trace: netsnmp_add_varbind_to_cache(): snmp_agent.c, 1939:
snmp_agent: tp->start RFC1213-MIB::atIfIndex, tp->end RFC1213-MIB::atPhysAddress, 
trace: netsnmp_add_varbind_to_cache(): snmp_agent.c, 1959:
verbose:asp: asp 0x46f05b00 reqinfo 0x42c27d80 assigned to request
trace: netsnmp_add_varbind_to_cache(): snmp_agent.c, 1966:
verbose:asp: asp 0x46f05b00 reqinfo 0x42c27d80 assigned to request
trace: netsnmp_call_handlers(): agent_handler.c, 510:
handler:calling: main handler bulk_to_next
trace: netsnmp_call_handler(): agent_handler.c, 430:
handler:calling: calling handler bulk_to_next for mode GETNEXT
trace: netsnmp_call_handler(): agent_handler.c, 438:
handler:returned: handler bulk_to_next returned 0
trace: netsnmp_call_handler(): agent_handler.c, 430:
handler:calling: calling handler old_api for mode GETNEXT