I'm getting the
LoadError: Expected script/../config/../config/../app/models/search_term.rb to define SearchTerm error
However, instead of it being on reloading it's on the first load. This looks similar to the plugins bug #5852, but the file it's messing up on is a normal model file. This file is required by a plugin, which might have something to do with it. I've tested this out in the console, and the wierd thing is repeating the u = User.new straight after the one that causes the above works. It looks like it's reporting it can't find the class even though it has.
I've put a detailed trace that uses Dependencies.log_activity on http://pastie.caboo.se/10940/
This all works in r4727, fails in r4883