I have just had the same problem myself, after searching around a lot and thinking that the problem was similar to this:
http://www.fineconnection.com/How_to_set_the_net-snmp_agent_update_or_counter_refresh_interval
I looked at the syslog file and realized the snmp was unable to access /proc/net amongst other things.
I am not sure if this default config has been fixed for the latest release, but after playing about the the permissions, I have got it to work again.