Timeout (30000 milliseconds) waiting for the postmaster service to connect

I have installed the postmaster (on WIN2K professional) as a service like this:

cygrunsrv --install postmaster --path /usr/bin/postmaster --args "-i" --dep ipc-daemon --termsig INT --user administrator --shutdown

When I restart the machine, I get the following two errors in the event log from the Service Control Manager:

The postmaster service failed to start due to the following error:
The service did not respond to the start or control request in a timely fashion.

and

Timeout (30000 milliseconds) waiting for the postmaster service to connect.

I checked to see if the postmaster.pid file was left around, and it had been cleaned up properly on shutdown. Has anyone else seen this?

Russell