cd ${DIRSTACK[1]} fails on use of ~

[llattanzi+bash]

Configuration Information [Automatically generated, do not change]:
Machine: powerpc
OS: darwin9.0
Compiler: gcc
Compilation CFLAGS:  -DPROGRAM='bash' -DCONF_HOSTTYPE='powerpc' - 
DCONF_OSTYPE='darwin9.0' -DCONF_MACHTYPE='powerpc-apple-darwin9.0' - 
DCONF_VENDOR='apple' -DLOCALEDIR='/usr/share/locale' -DPACKAGE='bash'  
-DSHELL -DHAVE_CONFIG_H -DMACOSX   -I.  -I/SourceCache/bash/bash-61/ 
bash -I/SourceCache/bash/bash-61/bash/include -I/SourceCache/bash/ 
bash-61/bash/lib -I/SourceCache/bash/bash-61/bash/lib/intl -I/private/ 
var/tmp/bash/bash-61.obj~2/lib/intl  -arch i386 -arch ppc -g -Os - 
pipe -no-cpp-precomp -mdynamic-no-pic -DM_UNIX -arch i386 -arch ppc - 
pipe
uname output: Darwin zardoz.apple.com 9.0.0d1 Darwin Kernel Version  
9.0.0d1: Sun Feb 26 17:29:52 PST 2006; root:xnu-848.obj~3/RELEASE_PPC  
Power Macintosh
Machine Type: powerpc-apple-darwin9.0

Bash Version: 3.1
Patch Level: 0
Release Status: release

Description:
        PR-4458849
        if ~ ends up in $DIRSTACK you can't directly cd to ${DIRSTACK[n]}

Repeat-By:
        cd /var/tmp
        mkdir test
        HOME=/var/tmp
        cd test
        pushd ./
        cd ..
        cd ${DIRSTACK[1]}
        # error from bash
        bash: cd: ~/test: No such file or directory
        # ktrace shows a stat("/var/tmp/~") failing