reverse video in PS1 breaks command line editing

[dst]

Configuration Information [Automatically generated, do not change]:
Machine: x86_64
OS: linux-gnu
Compiler: gcc
Compilation CFLAGS:  -DPROGRAM='bash' -DCONF_HOSTTYPE='x86_64' 
-DCONF_OSTYPE='linux-gnu' -DCONF_MACHTYPE='x86_64-pc-linux-gnu' 
-DCONF_VENDOR='pc' -DLOCALEDIR='/usr/share/locale' -DPACKAGE='bash' -DSHELL 
-DHAVE_CONFIG_H   -I.  -I../bash -I../bash/include -I../bash/lib   -g -O2 -Wall
uname output: Linux ammon2.boltz.cs.cmu.edu 2.6.32-33-generic #72-Ubuntu SMP 
Fri Jul 29 21:07:13 UTC 2011 x86_64 GNU/Linux
Machine Type: x86_64-pc-linux-gnu

Bash Version: 4.1
Patch Level: 5
Release Status: release

Description:
Using reverse video is PS1 causes bash to get confused when doing command line 
editing.

Repeat-By:
The following sequence will reproduce the error.  Note that the file name must 
be
longer than 7 characters.

  First, set the prompt string to use reverse video:
    PS1="\e[7m\h:\w>\e[0m "
  Next, set up a file we can use for completion:
    echo >foobarbaz.txt
  Finally, this input sequence will demonstrate the bug:
    ls foo<TAB> foo<TAB> <control-A>
  Instead of moving the cursor to the beginning of the line, the <control-A> 
moves it
  to the "r" in the forst "foobarbaz".  Typing <control-L> to redraw the line 
leaves
  the cursor in the same erroneous place.

  Note: the above works correctly in tcsh.  It's a bash-specific bug.