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I'm getting the same thing, Check this thread for more info:
http://forums.kali.org/showthread.php?18166-Kali-1-0-4-armel-for-Raspberry-Pi-GUI-not-working

I just finished downloading the image as well, and while it boot's just fine, startx does indeed fail with the "command not found"

I too hoped that installing xorg and a desktop manager would get...