I've tracked it down to src/sys/arch/pmax/stand/bootxx_cd9660

make dependall dies with:

ld -Map bootxx_cd9660.map -N -x -Ttext 0x80700000 -T /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/../../../../arch/mips/conf/stand.ldscript -e start -o bootxx_cd9660 start.o bootxx.o callvec.o devopen.o conf.o rz.o bootinit.o bootread.o clear_cache.o printf.o /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/kern/libkern.a
ld: bootxx.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file bootxx.o
ld: callvec.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file callvec.o
ld: devopen.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file devopen.o
ld: conf.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file conf.o
ld: rz.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file rz.o
ld: lseek.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file
/amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(lseek.o) 
ld: disklabel.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(disklabel.o)
ld: errno.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(errno.o)
ld: read.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(read.o)
ld: open.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(open.o)
ld: dkcksum.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(dkcksum.o)
ld: cd9660.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(cd9660.o)
ld: memset.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(memset.o)
ld: memcpy.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(memcpy.o)
ld: bcmp.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(bcmp.o)
ld: alloc.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/sa/libsa.a(alloc.o)
ld: strcpy.o: linking PIC files with non-PIC files
Bad value: failed to merge target specific data of file /amd/goldberry/usr/local/src/NetBSD/src/sys/arch/pmax/stand/bootxx_cd9660/lib/kern/libkern.a(strcpy.o)

This is from 1.4.1 kernel and userspace with update egcs, binutils, and
ld.new.  Any ideas?  (besides just waiting for simon to compile a new
snapshot...)

-- 
  Aaron J. Grier  | "Not your ordinary poofy goof." | agrier@poofy.goof.com
   "I really admire your perverse mastery of the SPARC branch delay slot,
      Dave.  Or is it your mastery of the perverse branch delay slot?"
	          -- Joe Martin to Dave S. Miller on linux-kernel