Ubuntu 13.04 64 bit. Auto lagin is NOT disabled (i.e. I do have to enter my password to login). The password for the "Login" key chain (previously my only key chain is the same as my login password.
When I login, instead of unlocking the keyring with all my passwords on it, it creates a new "Login" keyring which is unlocked. I am then prompted for a password for my real "Login" keyring.
So I have a keyring called "Login" for every time I've logged in since this has started (sans the ones I've deleted), but only one (the one that was just created) actually gets unlocked at login.