It is quite annoying that the virtual consoles on Alt+F$ keys have been shrinked to just one. What is the reason for this? Would somebody add them again to /etc/inittab (and add to agetty lines --noclear option so that it does not clear the screen with possible error messages)? I think the virtual screens still exist on daily snapshot install *.iso images.
please next time do not assign any livedvd related bugs to releases@gentoo.org but to ten@gentoo.org. We will look into the VT issue.
BTW, I cannot start "screen" on the only Alt+F1 console because it says "out of pty's". Maybe you lowered the number of PTYs in .config or too many device modules attached/reserved them? Not sure what is this about. But I know of two or three kernel .config variables around the PTY stuff, so maybe their inspection will help. But still, the /etc/inittab changes must happen. But after that you likely hit the PTY bug. ;)
inittab should be good now... please test.