I have 2 bottles with Rift installed on my Mac (MacPro 3,1 with a ATI Radeon HD 5870). One for playing (LegacyRenderer = true) and one for testing (LegacyRenderer = False).
Today, after installing the latest hotfix that allowed me to log back into the game at all, I decided to test that bug again. I found to my surprise that I could create a new character and go on playing after the intro movie until I had to logout after which I was back to the well known error on load again.
As I couldn't find this mentioned anywhere, I thought I'll post it here just in case it helps :)