Postgresql 8.0.3, symbolic link to /var/lib/pgsql/data/base

I'm trying to move my databases to another drive.

With postmaster off, I create:

/home/pgsql

mv /var/lib/pgsql/data/base /home/pgsql/

I make sure that /home/pgsql is owned by postgres, and only 'rwx' for
the owner. All the permissions look fine.

from /var/lib/pgsql/data, I do

ln -s /home/pgsql/base

Of course the link permissions look like:

lrwxrwxrwx 1 postgres postgres 16 Sep 28 14:21 base -> /home/pgsql/base

The postmaster starts, but attempts to access the database complain that
permission is denied:

$ psql -l
psql: FATAL: could not access directory "/var/lib/pgsql/data/base/1":
Permission denied

Any clues about why this won't work?
I've searched the archives, but most references were to invalid
permissions on the directories and I'm pretty sure I've got those right.

All my pgsql dirs look pretty much like:
drwx------ 3 postgres postgres 4096 Sep 28 14:21 pgsql

Both in the original /var/lib/pgsql area, and the /home/pgsql area.