> You can't build a new kernel without a new gas, which requires "bfd.h", which
> requires libbfd, which can't be used without a new linker, which can't be
> built without libbfd.  What am I missing?

cd /usr/src/gnu/lib/libbfd && make && make install
cd /usr/src/gnu/usr.bin/gas.new && make && make install

did work for me.

Martin

P.S.: libbfd/Makefile handles both old and new toolchain