I've just spent a good 5 or 6 hours wrestling with this too and have finally fixed the problem. This may work for you too perhaps.
The source code I've been using is available at Lars Vogel's tutorial page. Using Apache Tomcat 6.0.20, asm-all-3.3.1.jar, jersey-bundle-1.17.1.jar and jsr311-api-1.1.1.jar I was getting the same results as the OP, i.e.
INFO: Root resource classes found:
class com.mypackage.MyClass
13/03/2013 4:32:30 PM com.sun.jersey.api.core.ScanningResourceConfig init
INFO: No provider classes found.
I had the following settings across the various deployment files:
context root = rivets
/rest
@Path("/hello")
Trying to access the resource using the following URL gave a 404 error
http://localhost:8080/rivets/rest/hello
I was eventually able to fix it by changing the url-pattern to :
/rest/*
Though I'm not sure how this will hold up when I start to introduce more complex resources. Anyway, hopefully this may help someone.