I had the same issue today. From my research on the web, there is an issue with the armv6 libraries that cause the symbolicate process to fail. I found the answer in the dev forums here.
For those without access, you need to create a copy of the symbolicatecrash
script from /Developer/Platforms/iPhoneOS.platform/Developer/Library/PrivateFrameworks/DTDeviceKit.framework/Versions/A/Resources/
. Edit the file and replace the 'die' on line 323 with a 'print' (this is why it's not working, the script fails here).
Then run symbolicatecrash
against your crash log. You'll see the error from line 323, but then it will symbolicate all your lines and variables. It still fails for the system libraries, but it give enough information to fix your own bugs.
Hope this helps.