I suffered from something that looks similar, my underlying
cause is that ECHO is not set properly leading to big trouble
when func_dirname_and_basename "$progpath" is executed.
this line:
func_dirname_result=`$ECHO "${1}" | $SED -e "$dirname"`
expands to the following for me
func_dirname_result=`"./libtoolize" | /bin/sed -e "s,/[^/]*$,,"`
leading to lots of forks.
my libtoolize as this line before the above
: ${ECHO=$as_echo}
but as_echo is not assigned anywhere in my libtoolize.
I'm on debian squeeze, autoconf 2.64, automake 1.11 but
testing the pr-msvc-support branch.
Huh?