weird regression test issue CVS HEAD

I keep getting this:

pg_regress: initdb failed
Examine ./log/initdb.log for the reason.

rm regress.o
gmake[2]: Leaving directory `/home/chriskl/pgsql/src/test/regress'
gmake[1]: Leaving directory `/home/chriskl/pgsql/src/test'
-bash-2.05b$ more src/test/regress/log/initdb.log
Running in noclean mode. Mistakes will not be cleaned up.
initdb: input file
"/home/chriskl/pgsql/src/test/regress/./tmp_check/install//ho
me/chriskl/local/share/postgresql/postgres.bki" does not belong to
PostgreSQL 7.
5devel
Check your installation or specify the correct path using the option -L.
-bash-2.05b$

I wiped the src/test dir, re cvs up'd and did gmake test again and it
still happens. What's going on?

Chris