When doing the boneyard uprising (by getting guns for the blades from the gun runners) I always 'win' the fight, but razor never appears, and is always dead in the spot she normally stands in the blades area.
Has anyone else noticed this? Is it worth worrying about or just ignoring and moving on?

Yes, I noticed it.
For me, If I accepted her quest, Razor would then die if I slept or moved out of the boneyard maps into the wasteland.
I'm not sure if it is a glitch or intentional as part of the (we need it soon!) quest.
Encountered this twice: Reloaded to an earlier save, immediately did the quest (without rest or leaving the boneyard) and returned and Razor had survived whatever fate kills her off.
edit: Also, be sure to kill every enemy. IIRC, there is one or two hidden by corners you don't encounter immediately.

I think there are some bugs related to the order in which you talk to Razor and Zimmerman and whether or not you have the holodisk of Regulator radio signals.
Once you get the weapons, it is possible to decline to help in the fight between the Blades and the Regulators. You still get 2,000 XP for completing the quest and the Blades automatically win and all the Regulators disappear. This isn't as much fun as participating in the battle, but it might get you past the bug.

I'm not sure this is the same bug, because it sounds like the OP is able to trigger the invasion. But maybe not, the OP mentions winning a battle, but doesn't confirm the presensce of the Blades.
nruth: do several members of the Blades show up at the gate at the start of the battle? They will all be wearing Combat Armor and carrying mostly Laser Rifles.

Yes the Blades are there. I may have sold the holodisk though. I went on and finished the game regardless now and am going to give FO2 a spin, but thanks for the feedback!