[Raspberry Pi Development] AdamOutler:
It's way more than i've seen before on this version! It's not connecting to the server though. Here's the output you requested. I have to elevate sudo on my device because I do not have permissions assinged to open my Nexus7 from adb.

pi@raspberrypi ~/adb $ ADB_TRACE=all ./adb kill-server
system/core/adb/adb.c::main():Handling commandline()
system/core/adb/adb_client.c::_adb_connect():_adb_connect: host:kill
pi@raspberrypi ~/adb $ sudo ADB_TRACE=all ./adb devices
system/core/adb/adb.c::main():Handling commandline()
system/core/adb/adb_client.c::adb_query():adb_query: host:devices
system/core/adb/adb_client.c::_adb_connect():_adb_connect: host:version
system/core/adb/adb_client.c::adb_connect():adb_connect: service host:devices
* daemon not running. starting it now on port 5038 *
ADB server didn't ACK
* failed to start daemon *
error: cannot connect to daemon
pi@raspberrypi ~/adb $ sudo ADB_TRACE=all ./adb reboot
system/core/adb/adb.c::main():Handling commandline()
system/core/adb/adb_client.c::_adb_connect():_adb_connect: host:version
system/core/adb/adb_client.c::adb_connect():adb_connect: service reboot:
* daemon not running. starting it now on port 5038 *
ADB server didn't ACK
* failed to start daemon *
error: cannot connect to daemon
pi@raspberrypi ~/adb $

here's an strace ./adb reboot

pi@raspberrypi ~/adb $ strace ./adb reboot
execve("./adb", ["./adb", "reboot"], [/* 28 vars */]) = 0
gettid() = 3012
set_tls(0x5b0a0, 0x5b1a0, 0x5b19c, 0x40, 0x5b0a0) = 0
open("/dev/urandom", O_RDONLY|O_LARGEFILE) = 3
read(3, "\237`\271\264", 4) = 4
close(3) = 0
clock_gettime(CLOCK_MONOTONIC, {805, 485324377}) = 0
mmap2(NULL, 4096, PROT_READ|PROT_WRITE, MAP_PRIVATE|MAP_ANONYMOUS, -1, 0) = 0x400aa000
madvise(0x400aa000, 4096, 0xc /* MADV_??? */) = -1 EINVAL (Invalid argument)
mprotect(0x400aa000, 4096, PROT_READ) = 0
socket(PF_INET, SOCK_STREAM, IPPROTO_IP) = 3
connect(3, {sa_family=AF_INET, sin_port=htons(5038), sin_addr=inet_addr("127.0.0.1")}, 16) = -1 ECONNREFUSED (Connection refused)
close(3) = 0
mprotect(0x400aa000, 4096, PROT_READ|PROT_WRITE) = 0
mprotect(0x400aa000, 4096, PROT_READ) = 0
fstat64(1, {st_mode=S_IFCHR|0620, st_rdev=makedev(136, 0), ...}) = 0
brk(0) = 0x69000
brk(0x69000) = 0x69000
brk(0x6a000) = 0x6a000
mprotect(0x400aa000, 4096, PROT_READ|PROT_WRITE) = 0
mprotect(0x400aa000, 4096, PROT_READ) = 0
ioctl(1, SNDCTL_TMR_TIMEBASE or TCGETS, {B38400 opost isig icanon echo ...}) = 0
write(1, "* daemon not running. starting i"..., 53* daemon not running. starting it now on port 5038 *
) = 53
pipe([3, 4]) = 0
getpid() = 3012
readlink("/proc/3012/exe", "/home/pi/adb/adb", 4095) = 16
fork() = 3013
close(4) = 0
read(3, "Inv", 3) = 3
close(3) = 0
write(2, "ADB server didn't ACK\n", 22ADB server didn't ACK
) = 22
write(2, "* failed to start daemon *\n", 27* failed to start daemon *
) = 27
write(2, "error: cannot connect to daemon\n", 32error: cannot connect to daemon
) = 32
mprotect(0x400aa000, 4096, PROT_READ|PROT_WRITE) = 0
mprotect(0x400aa000, 4096, PROT_READ) = 0
mprotect(0x400aa000, 4096, PROT_READ|PROT_WRITE) = 0
mprotect(0x400aa000, 4096, PROT_READ) = 0
munmap(0x400aa000, 4096) = 0
--- SIGCHLD (Child exited) @ 0 (0) ---
exit_group(1) = ?
pi@raspberrypi ~/adb $