I have a hard time too, believing that this issue could have gone unnoticed for so long, but...
1) during my slackware 12 installation I choosed to link
/dev/modem to
/dev/ttyS0 and after the first reboot
/dev/modem wasn't there anymore;
2) no matter how many times I run that setup script,
/dev/modem keeps disappearing;
3) that script just use
ln to make the symlink:
( cd $T_PX/dev ; ln -sf $MODEM_DEVICE modem );
4) symlinks in
/dev don't survive reboot unless you make an udev rule (normal behavior);
I'll report it to
info@... (unless anyone is going to provide evidence that I'm wrong
)