I just tried to bulk import images using image_import. I received a list of error messages telling me that thumnail / preview creation failed. After that I tried to manually add an image and received the same error. What means this is an issue with image module itself and not with image_import. When I set the image toolkits to build-in GD2 everything works fine, the error only appears with imagemagick toolkit. The 'image' and 'image/temp' directories are set to 777 permission, so that shouldnt be a problem (and this also happens on a Windows box).
I also realized that thumbnail / preview derivatives are actually created in the 'temp' directory, but for some reason they are not copied to the 'image' folder.

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drewish’s picture

drewish commented
Status: Active » Closed (duplicate)

see: http://drupal.org/node/79066
it was a few pages down, but i'm working on cleaning up the issue queue and just came across it