I'm running Kubuntu 12.10dev with the following KDE and wallet version
Qt: 4.8.3
KDE Development Platform: 4.9.2
KDE Wallet Manager: 1.10.

When I boot the system I insert the password of the wallet and then it should stay open.
Then I wait for the wireless to connect and it stays stuck on waiting for authorisation (this is one of the most annoying effects of the bug). If I go to "manage connections" and try to edit/delete the wireless net I want to connect to, the wallet prompt for the password again. Only this time the field is already filled with the password. If I delete the network, search again for it, insert the wlan password, I can connect but it prompt again for the password.
If I open the wallet manager and try to open the wallet or change the password, it prompts me for the password and nothing happens (I'm reasonably sure that the password is correct). 

About a week ago I upgraded Kubuntu from 12.04 to 12.10dev (Precise wasn't coping very well with my brand new hardware, so I hoped to solve some of the problems). From what I recalled everything with the wallet went smoothly until I had the terrible idea to to pair Kontact with my gcal and gmail address book. At that point the wallet password nightmare which made my computer unusable. 
On monday I wipped out (almost) all my local settings (rm -rf $HOME/.??*) and I could use my computer again.
But now I've rebooted and I couldn't connect to the wireless, the wallet was prompting for password. So to write this bug report I had to delete the wireless connection and search again for it. And I cannot access my wallet. 

Reproducible: Sometimes

Steps to Reproduce:
1. turn on the computer
2. insert the wallet password
3. try to connect to a saved wireless network or access the wallet
Actual Results:  
the wireless do not connect (waiting for the wallet to answer back) and there is no way to access the wallet
The wallet prompt for a password, with the space for it already filled with the right number of dots.
To be able to use the wireless, one have to delete the entry and insert again the network password

Expected Results:  
the wallet prompts for the password at start up, after insertion it tells if the password is wrong, otherwise works in the background as is supposed to do (in my case it should stay always open.