DDRKhat

Are you sure you properly formatted the command?
try the following command;

/spawnpoint @a ~ ~ ~

It will set EVERYBODY'S spawnpoint to YOUR current co-ordinates.

I can say that this issue STILL exists all the way up to the (currently latest) snapshot (14w02c)
Personal environment: Windows 7 (64x) - Java 7 (64-bit).
Server environment: ubuntu 12.04 (32x) - Java 7 (32-bit).

It would seem like spawners are suffering the same issue as an improperly formatted command if that is the case. So the issue could be in that it is not summoning an item properly.

This can be resolved by properly formatting your Summoned Item

/summon Item ~ ~2 ~ {id:1,Age:5900} (Stone with 10s of life - spews tons of Item Entity has no item?!

/summon Item ~ ~2 ~ {Item:{id:1},Age:5900} (Stone with 10s of life - does NOT)

The difference between these two items is that the item spawned has a tag Item: Not FULLY sure why this resolves the issue, but it works for me.

I swear I had made the post but apparently not.
This is still an issue even in the current latest version.

Decimals completely breaks it. Upon giving any of the co-ordinates in question a decimal it did nothing to the player within the radius (even if stood upon the very centre)