Comment 5 for bug 1049146

verified fixed by running the above 'Test Case', but by adding the proposed pocket before upgrading the initial system.
   echo "deb http://archive.ubuntu.com/ubuntu $(lsb_release -sc)-proposed main" | sudo tee -a /etc/apt/sources.list
# then
sudo apt-get update -q && sudo apt-get upgrade -y
do-release-upgrade --frontend=DistUpgradeViewNonInteractive

# then reboot

after reboot,

$ sudo cat /root/user-data.log
====== Wed, 12 Dec 2012 19:18:15 +0000 [/var/lib/cloud/data/scripts/part-000] =====

There was only one entry there, indicating it did not run on reboot