If anyone is interested this error is still in effect with the latest  
PHP 5.1.2 import on OS X 10.4.4 as well. I tried a work around (doing  
an individual ln -s .libs/*.o . on each affected directory). I then  
ended up with the following error...

/usr/bin/ld: multiple definitions of symbol _yytext
Zend/zend_language_scanner.o definition of _yytext in section  
(__DATA,__common)
Zend/zend_ini_scanner.o definition of _yytext in section  
(__DATA,__common)
/usr/bin/ld: multiple definitions of symbol _xmlwriter_class_entry_ce
ext/xmlwriter/php_xmlwriter.o definition of _xmlwriter_class_entry_ce  
in section (__DATA,__common)
main/internal_functions.o definition of _xmlwriter_class_entry_ce in  
section (__DATA,__common)
/usr/bin/ld: warning multiple definitions of symbol _pcre_free
ext/pcre/pcrelib/pcre_globals.o definition of _pcre_free in section  
(__DATA,__data)
/data/sbin/httpd definition of _pcre_free
/usr/bin/ld: warning multiple definitions of symbol _pcre_malloc
ext/pcre/pcrelib/pcre_globals.o definition of _pcre_malloc in section  
(__DATA,__data)
/data/sbin/httpd definition of _pcre_malloc
/usr/bin/ld: warning multiple definitions of symbol _regcomp
/data/sbin/httpd definition of _regcomp
/usr/lib/gcc/powerpc-apple-darwin8/4.0.1/../../../libpthread.dylib 
(regcomp.So) definition of _regcomp
/usr/bin/ld: warning multiple definitions of symbol _regexec
/data/sbin/httpd definition of _regexec
/usr/lib/gcc/powerpc-apple-darwin8/4.0.1/../../../libpthread.dylib 
(regexec.So) definition of _regexec
/usr/bin/ld: warning multiple definitions of symbol _regfree
/data/sbin/httpd definition of _regfree
/usr/lib/gcc/powerpc-apple-darwin8/4.0.1/../../../libpthread.dylib 
(regfree.So) definition of _regfree
collect2: ld returned 1 exit status
gnumake: *** [libs/libphp5.bundle] Error 1

If anyone has any ideas let me know, I'm happy to help test fixes.

Cheers,

Mark