OK, this is what i get after running the updater and starting the game (for a few seconds

).
Oh, i have to mention that the updater didn't find any updates in the first place. I removed the last line in the updaterinfo.xml (the one containing version 4.02); after this the updater started and did the update without any error reports...
DEBUG: Initializing OpenAL sound system
DEBUG: Retrieving available devices.
DEBUG: Default OpenAL device: '((sampling-rate 44100) (device '(native))
DEBUG: No device specified
DEBUG: Falling back on default device
DEBUG: Can't retrieve attributes size: OpenAL error ALC_INVALID_DEVICE
planeshift.application.client:
PlaneShift Steel Blue (0.4.03)
This game uses Crystal Space Engine created by Jorrit and others
1.4.0 [Unix-x86-GCC]
Mon Dec 1 09:07:22 2008, LOG_ANY flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_WEATHER flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_SPAWN flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_CELPERSIST flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_PAWS flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_GROUP flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_CHEAT flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_LINMOVE flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_SPELLS flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_NEWCHAR flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_SUPERCLIENT flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_EXCHANGES flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_ADMIN flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_STARTUP flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_CHARACTER flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_CONNECTIONS flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_CHAT flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_NET flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_LOAD flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_NPC flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_TRADE flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_SOUND flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_COMBAT flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_SKILLXP flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_QUESTS flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_SCRIPT flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_MARRIAGE flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_MESSAGES flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_CACHE flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_PETS flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_USER flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_LOOT flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_DUELS flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, LOG_TRIBES flag deactivated with no filter.
Mon Dec 1 09:07:22 2008, All LOGS are off.
Mounting skin: /this/art/skins/elves.zip
Mounting skin: /planeshift/art/skins/base/client_base.zip
psEngine initialized.
Using fontsize 20 for resolution 1272x967
WARNING! Object '_s_column_01' is not closed!
WARNING! Object 'spikes_02' is not closed!
WARNING! Object '_s_sigil_06' is not closed!
WARNING! Object '_s_stairs_01' is not closed!
WARNING! Object '_s_sigil_04' is not closed!
WARNING! Object 'spikes_01' is not closed!
...
crystalspace.graphics3d.shader.fixed:
Multitexture units: whopping 8
planeshift.application.client:
PSLoader: step 2: success
PSLoader: step 3: success
Mon Dec 1 09:07:37 2008, <src/common/util/psxmlparser.cpp:282 ParseFile SEVERE>
Mon Dec 1 09:07:37 2008, Could not find file: /planeshift/world/terr_common/sound.xml
Mon Dec 1 09:07:38 2008, <src/common/util/psxmlparser.cpp:282 ParseFile SEVERE>
Mon Dec 1 09:07:38 2008, Could not find file: /planeshift/world/hydlaa_jayose/sound.xml
PSLoader: step 4: success
crystalspace.maploader.parse.image:
Could not open image file 'materialnotdefined' on VFS!
crystalspace.maploader.parse.texture:
Could not load texture 'materialnotdefined', using checkerboard instead
[node: world,textures,texture(name=materialnotdefined)]
crystalspace.maploader.parse.image:
Could not open image file 'bamboo01.dds' on VFS!
crystalspace.maploader.parse.texture:
Could not load texture 'bamboo01.dds', using checkerboard instead
[node: world,textures,texture(name=bamboo01.dds)]
crystalspace.maploader.parse.image:
Could not open image file 'oja_details01.dds' on VFS!
crystalspace.maploader.parse.texture:
Could not load texture 'oja_details01.dds', using checkerboard instead
[node: world,textures,texture(name=oja_details01.dds)]
crystalspace.maploader.parse.image:
Could not open image file 'bb_shute01.dds' on VFS!
crystalspace.maploader.parse.texture:
Could not load texture 'bb_shute01.dds', using checkerboard instead
[node: world,textures,texture(name=bb_shute01.dds)]
crystalspace.maploader.parse.image:
Could not open image file 'sandstone02.dds' on VFS!
crystalspace.maploader.parse.texture:
Could not load texture 'sandstone02.dds', using checkerboard instead
[node: world,textures,texture(name=sandstone02.dds)]
Map arena loaded successfully in 3087ms
Mon Dec 1 09:07:44 2008, <src/client/psclientdr.cpp:248 HandleStatsUpdate SEVERE>
Mon Dec 1 09:07:44 2008, Stat request failed because CelClient not ready for EID:21907
Map hyarena loaded successfully in 239ms
Mon Dec 1 09:07:45 2008, <src/client/zonehandler.cpp:189 HandleMessage>
Mon Dec 1 09:07:45 2008, Still loading maps, ignoring crossing to sector upper.
planeshift.application.client:
PSLoader: step 5: success
Mon Dec 1 09:07:45 2008, <src/common/paws/pawswidget.cpp:552 LoadAttributes>
Mon Dec 1 09:07:45 2008, GUI image 'ColorTool' not found.
Mon Dec 1 09:07:45 2008,
Mon Dec 1 09:07:45 2008, <src/common/paws/pawswidget.cpp:552 LoadAttributes>
Mon Dec 1 09:07:45 2008, GUI image 'NameTool' not found.
Mon Dec 1 09:07:45 2008,
Mon Dec 1 09:07:45 2008, <src/common/paws/pawswidget.cpp:552 LoadAttributes>
Mon Dec 1 09:07:45 2008, GUI image 'SaveTool' not found.
Mon Dec 1 09:07:45 2008,
Mon Dec 1 09:07:45 2008, <src/common/paws/pawswidget.cpp:552 LoadAttributes>
Mon Dec 1 09:07:45 2008, GUI image 'LoadTool' not found.
Mon Dec 1 09:07:45 2008,
PSLoader: step 6: success
Mon Dec 1 09:07:45 2008, <src/client/psclientdr.cpp:212 HandleDeadReckon SEVERE>
Mon Dec 1 09:07:45 2008, Got DR message for unknown entity EID:21813.
Mon Dec 1 09:07:50 2008, <src/client/psclientdr.cpp:212 HandleDeadReckon SEVERE>
Mon Dec 1 09:07:50 2008, Got DR message for unknown entity EID:21490.
Mon Dec 1 09:07:50 2008, <src/client/modehandler.cpp:327 HandleModeMessage SEVERE>
Mon Dec 1 09:07:50 2008, Received psModeMessage for unknown object EID:21538
Mon Dec 1 09:07:50 2008, <src/client/modehandler.cpp:327 HandleModeMessage SEVERE>
Mon Dec 1 09:07:50 2008, Received psModeMessage for unknown object EID:21538
Mon Dec 1 09:07:50 2008, <src/client/modehandler.cpp:327 HandleModeMessage SEVERE>
Mon Dec 1 09:07:50 2008, Received psModeMessage for unknown object EID:21538
X out of bounds nan - 0.343!
Y out of bounds nan - 0.34202!
DistributeLeafObjects failed: !leaf_replaced
This node contains the following objects:
0: 'effect_label_0' (nan,2.38592,-41.3065)-(nan,2.75718,-40.3448)
1: 'weapons#shortsword01a' (nan,-0.25063,-40.8732)-(nan,0.446723,-40.7624)
2: 'weapons#shortsword01a' (nan,-0.25063,-40.8732)-(nan,0.446723,-40.7624)
3: 'klyrosm' (nan,-0.107762,-41.6135)-(nan,1.95029,-39.9608)
4: 'effect_label_8' (31.383,3.59666,-40.5712)-(34.2917,4.90746,-39.0372)