FYI:
I found the solution to this problem. It was a total PITA and I'm
still trying to track down the exact details as to why types are so
funky in Rails 3. The solution is to add the following to your models:
ActiveRecord::Base.inheritance_column = "activerecordtype"
In my case, I simply added this to my active_record.rb initializer
file which then prevented these annoying messages from popping up and
rendering my Rails 3 app useless.
"The single-table inheritance mechanism failed to locate the subclass"
Now that I'm finally on Rails 3 and have converted from Rails 2, I
have to say this was the hardest and obscure problem that I've come
across so far. Otherwise, things are much nicer in Rails 3 (well, once
you get pass all the deprecation warnings).