Price set error with NULL financial types

1) On a new site, go to the default rain forest event

2) on amount tab convert to price set

3) note that the price set is still not visible on manage event amount tab
 
4) check civicrm_price_set.financial_type_id & see no value

I'm not sure if 4 is the error (alternative is 4 is valid & 3 should work differently)  - it seems it probably is - in which case the error is a bit more extensive as on that default site there are other price sets with no financial type.

Joe Murray Monish Deb Coleman Watts - I think this needs to be in the rc being cut on Wed - I'm not 100% sure which part is incorrect.