Possible Bug - error creating a tablespace

So I think I *may* have found a bug but I want to be sure before I file a bug.
I did a search on the pgsql-bugs list using the search text:

cannot create tablespace

and got nothing back.

Here's the scenario:

1) we installed CentOS 5.3 x86_64 on a 64bit Dell server

2) I installed the pgdg_centos-8.3-6.noarch rpm in order to enable the 8.3.x
repo.

3) I used yum to install postgres and friends

4) Here's the weird part:
-- If I start the cluster via "sudo /etc/init.d/postgres start" and then try
and create a tablespace it fails with :

create tablespace benchmark2 location '/eq5/pwbbench';
ERROR: could not set permissions on directory "/eq5/pwbbench": Permission
denied

-- however if I start the db as user postgres with:

pg_ctl -D /var/lib/pgsql/data start

and then create the tablespace it works.

Likewise if I create the tablespace after starting the cluster via pg_ctl and
then subsequently restart the db via 'sudo /etc/init.d/postgres start' I get
errors trying to insert data into the previously created tablespace but if I
start the cluster with pg_ctl (as user postgres) then I can also add data to
the tablespace.

I see that in the /etc/init.d/postgres file the start command is running the
postmaster (not pg_ctl) as user postgres.

So, based on the above I suspect Its a bug but I wanted to be sure.

Thoughts?