I did use the include.lib option when bundling (and for what it's worth I installed packrat from git using devtools) and can confirm that the libraries are present after untarring. After a little digging, I found that the error message is being thrown when R gets to this section in init.R:
If I comment that out and source init.R manually, then things seem to work all the way up until the packrat::on() call at the end:
> source('packrat/init.R')
Packrat is not installed in the local library -- attempting to bootstrap an installation...
> Installing packrat into project private library:
- '/home/gmiknaitis/test/R_unbundle/packrat/lib/x86_64-redhat-linux-gnu/3.2.0'
* installing *source* package ‘packrat’ ...
** R
** inst
** preparing package for lazy loading
** help
*** installing help indices
converting help for package ‘packrat’
finding HTML links ... done
appDependencies html
bundle html
clean html
disable html
init html
install html
install_local html
migrate html
packify html
packrat-external html
packrat-mode html
packrat-options html
packrat-resources html
packrat html
repos_create html
repos_upload html
repository-management html
restore html
search_path html
snapshot html
snapshotImpl html
status html
unbundle html
unused_packages html
** building package indices
** testing if installed package can be loaded
* DONE (packrat)
> Attaching packrat
> Restoring library
> Packrat bootstrap successfully completed. Entering packrat mode...
Error in ensurePackageSymlink(source, target) :
Target '/home/gmiknaitis/test/R_unbundle/packrat/lib-R/base' already exists and is not a symlink