Now that you mention it - yes, but dbus-daemon was not running
It appears that some gnome-keyring-daemon defaults changed between
FBSD-6.3 and FBSD-7.0 as I was not running dbus-daemon under 6.3 but now
under 7.0 keyring requires it, but it wasn't automatically started under
7.0. Adding the appropriate /etc/rc.conf statements for dbus-daemon and
starting it manually eventually solved the keyring message flooding.