the Xen boot lines in your boot.cfg refer to the edition of xenkernel in /usr/pkg/... Not to the version you claim to have installed in /.
I would be surprised of the boot loader (/boot) is smart enough to be able to traverse the filesystem well enough to find it in /us/pkg/xen46-kernel/, assuming /usr/pkg is on the same filesystem as /.
Correct the path in the multiboot portion to /xen.gz and try again.
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