I've been having problems with building cow. I've tried this with OSX
and ubuntu dapper, and have experienced the same problem, so it's
probably a bug in the build process.

$ ./configure > /dev/null ; grep -- -I system.mk
MPINC           = # -I.
INCS            =  -I

I have to change that 'INCS' line to read

INCS = -I.

for anything to compile properly, otherwise it consumes the next
compile flag as an include directory...

I'm using anon sourceforge cvs to compile from.
Stephen Thorne
Development Engineer