Sorry bilbous, the "Could not find file: /planeshift/userdata/options/npcdialog.xml" is not really a problem. This just means that ~/.PlaneShift/options/npcdialog.xml (the config file for that window) doesn't exist yet what is kind of normal for a fresh install. Usually the file locations in the PS logs can not be directly translated in filepaths. On windows the log would look exactly the same but actually mean a file %AppData%\PlaneShift\Options\npcdialog.xml.
P.D.: I'm running on mesa drivers (for ATI card), and have also problems with OpenAL (I have tried bilbous workaround, without any luck).
This could be much more fo a problem. If there is any chance try the binary drivers from ATI (fglrx).
[xxx@42 ~]$ /opt/PlaneShift/psclient
Not sure if this really poses a problem, but installing system wide in /opt is also not the easiest option. Either your user needs write-rights to that directory and all files or you will have to run the updater as root for each update. In general installing somewhere inside your home-directory is a far easier solution.
In the end the log looks fine for me for a newly installed game so my guess really is on the video drivers.