I ran into this problem today after cloning a Fedora13 VM (running KVM):
Device eth0 does not seem to be present, delaying initialization
dmesg revealed that it had renamed eth0 to eth1:
udev: renamed network interface eth0 to eth1
I want eth0, not eth1. Virt-cloning changes the mac address so that probably confused udev. If this happens, then you can remove the a bad rule that it made for itself and ask it to try again. In other words:
rm /etc/udev/rules.d/70-persistent-net.rules
udevadm trigger