Is something wrong with `kbd'?

[Deniz Dogan]

One user in #emacs on Freenode just stumbled across something that
looks like a bug to me.

(global-set-key (kbd "C-TAB") 'mode-line-other-buffer)

Using that and then hitting C-TAB gives me "<C-tab> is undefined".
>From the documentation for `edmacro-mode':

 * The special words RET, SPC, TAB, DEL, LFD, ESC, and NUL represent
  special control characters.  The words must be written in uppercase.

 * One or more prefixes M- (meta), C- (control), S- (shift), A- (alt), ...

What's going on here?

(kbd "C-TAB") returns [67108873], whatever that's supposed to be.
(kbd "<C-tab>") returns [C-tab].

--
Deniz Dogan