insert-last-argument doesn't work if previous cmd is a comment

[Nem W Schlecht]

Configuration Information [Automatically generated, do not change]:
Machine: i386
OS: solaris2.8
Compiler: gcc
Compilation CFLAGS:  -DPROGRAM='bash' -DCONF_HOSTTYPE='i386' 
-DCONF_OSTYPE='solaris2.8' -DCONF_MACHTYPE='i386-pc-solaris2.8' 
-DCONF_VENDOR='pc' -DLOCALEDIR='/usr/local/share/locale' -DPACKAGE='bash' 
-DSHELL -DHAVE_CONFIG_H  -I.  -I. -I./include -I./lib  -I/usr/local/include -O3
uname output: SunOS ethereal 5.8 Generic_117351-08 i86pc i386 i86pc
Machine Type: i386-pc-solaris2.8

Bash Version: 3.0
Patch Level: 0
Release Status: release

Description:

        insert-last-argument does not work if the previous command was a
comment (starts with a '#').  At first, I thought this might be because I
had set HISTTIMEFORMAT which inserts timestamps into the HISTFILE as a
comment.  However, I unset HISTTIMEFORMAT and the problem still occurs.
When I attempt to do an insert-last-argument, the shell beeps.  If I
immediately repeat the command, the last argument from the command previous
to the comment

Repeat-By:

Enter the following, assuming ESC-. is mapped to insert-last-argument

$ echo hello
$ # this is a comment
$ echo <ESC-.>

        The shell will "beep" instead of recalling the word "comment" as it
should.