Have yet to try it with argonaut, but with the latest master (0.53-716-gb7da8bb (b7da8bbe7f7d5bbd8fb9ee59f491f6e3a4816143)), the procedure works flawlessly.
The minor detail that may cause issues to a newcomer, regardless of the version they may be using, is that nowhere in the doc is specified whether {path} should be the monitor's data location or some other temporary location whatsoever. Despite it not being that relevant, if on step 3 one ends up taking {path} as the mon data location, and {filename} as 'monmap', issues will arise when running the monitor:
ubuntu@plana41:~/master-ceph/src$ ./ceph-mon -i b -c ceph.conf --public-addr 127.0.0.1:6790
starting mon.b rank -1 at 127.0.0.1:6790/0 mon_data dev/mon.b fsid 4b7d24fb-1712-4ddd-8c61-f931a4d2b731
2012-11-08 11:08:07.046663 7f47ab21e780 -1 store(dev/mon.b) MonitorStore::get_int: failed to open 'dev/mon.b/monmap/last_pn': (20) Not a directory
2012-11-08 11:08:07.046680 7f47ab21e780 -1 store(dev/mon.b) MonitorStore::get_int: failed to open 'dev/mon.b/monmap/accepted_pn': (20) Not a directory
2012-11-08 11:08:07.046689 7f47ab21e780 -1 store(dev/mon.b) MonitorStore::get_int: failed to open 'dev/mon.b/monmap/last_committed': (20) Not a directory
2012-11-08 11:08:07.046698 7f47ab21e780 -1 store(dev/mon.b) MonitorStore::get_int: failed to open 'dev/mon.b/monmap/first_committed': (20) Not a directory
2012-11-08 11:08:07.046715 7f47ab21e780 -1 store(dev/mon.b) MonitorStore::get_int: failed to open 'dev/mon.b/monmap/slurping': (20) Not a directory
Despite this not being critical, and the easy fix being a 'mv {path}/monmap {path}/mon.map', it should be worth mentioning that {path} should either be a temporary location (say /tmp/ceph-mon-{id}), or {filename} should never be 'monmap' when one uses {path} == mon data location.