I have installed Dropbox on my fresh 12.04 LTS installation and under "Preferences" I have checked "Start Dropbox on System Startup".
Under "Startup Applications" I can see Dropbox is listed with the command "dropbox start -i".
However, when starting my laptop Dropbox is not started until I manually run the command "~/.dropbox-dist/dropboxd" in Terminal.
Why doesn't Dropbox start on its own?