Outcome of "mkinitcpio -v -p linux"
Btw. ZFS + SPL modules definitely are in /usr/lib/modules/3.5.0-2-ARCH/addon
-----------------------------------
     -> Running build hook: [zfs]
    adding file: /usr/lib/udev/rules.d/60-zpool.rules
    adding file: /usr/lib/udev/rules.d/60-zvol.rules
    adding file: /usr/lib/udev/rules.d/90-zfs.rules
    adding file: /etc/zfs/zdev.conf
    adding file: /etc/zfs/zpool.cache
    adding file: /usr/sbin/zfs
    adding symlink: /lib/libnvpair.so.1 -> /usr/lib/libnvpair.so.1.0.1
    adding file: /usr/lib/libnvpair.so.1.0.1
    adding symlink: /lib/libuutil.so.1 -> /usr/lib/libuutil.so.1.0.1
    adding file: /usr/lib/libuutil.so.1.0.1
    adding symlink: /lib/libzpool.so.1 -> /usr/lib/libzpool.so.1.0.1
    adding file: /usr/lib/libzpool.so.1.0.1
    adding symlink: /lib/libzfs.so.1 -> /usr/lib/libzfs.so.1.0.1
    adding file: /usr/lib/libzfs.so.1.0.1
    adding symlink: /lib/libm.so.6 -> /usr/lib/libm-2.16.so
    adding file: /usr/lib/libm-2.16.so
    adding symlink: /lib/libdl.so.2 -> /usr/lib/libdl-2.16.so
    adding file: /usr/lib/libdl-2.16.so
    adding file: /usr/sbin/zpool
    adding file: /usr/bin/zpool_layout
    adding file: /usr/lib/udev/zpool_id
    adding file: /usr/lib/udev/zvol_id
    adding file: /sbin/mount.zfs
    adding file: /usr/bin/hostid
==> ERROR: module not found: `zfs'
==> ERROR: module not found: `zcommon'
==> ERROR: module not found: `znvpair'
==> ERROR: module not found: `zavl'
==> ERROR: module not found: `zunicode'
==> ERROR: module not found: `spl'
    adding module: zlib_deflate
    adding file: /hooks/zfs