Absent documentation, I assume the fact that /etc/init.d/bluetooth does not bring up hci0 (i.e. bluetooth does not work) is a bug.
/etc/init.d/bluetooth starts a daemon called bluetoothd. You probably want to configure things statically in /etc/bluetooth/* instead of relying on the software to second-guess what you wanted it to do.
*** This bug has been marked as a duplicate of bug 505362 ***