I've seen this before, and I'm not sure why I get this.
When I run make check, in the top dir, I get:
============== removing existing temp installation ==============
============== creating temporary installation ==============
============== initializing database system ==============
pg_regress: initdb failed
Examine ./log/initdb.log for the reason.
make[2]: *** [check] Error 2
In the log file it says:
The program /usr/local/pgsql/bin/postgres
needed by initdb does not belong to PostgreSQL version 7.4beta2, or
there may be a configuration problem.
Obviously, it's not supposed to take that binary but the one in
the source tree.
Before I did this, I did a make clean and a make.
In src/test/regress/pg_regress I see this:
libdir='/usr/local/pgsql/lib'
pkglibdir='/usr/local/pgsql/lib'
bindir='/usr/local/pgsql/bin'
datadir='/usr/local/pgsql/share'
Kurt