I was not able to reproduce the problem you described.
Here are my steps:
I did a clean install of 4.1.1339 on Win7 with IIS and SQL Express.
Using browser Google Chrome 10:
Created a new user x1
Created a new profile with two custom fields with default values
Looked at the user x1: it has the new fields visible, but not with their default values but empty
Changed the values and saved.
Created new user x2
It has the new fields populated with default values - I changed them and about field and saved
Looked users x1 and x2 - for both I see last values I saved
Created user x3 and logged him in FireFox 3.6
Edited his details, saved, and looked his values were correct.
Do you think I missed something here?
Also can you provide some details about your setup and browser?
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