Use of system lisp when running freshly built emacs "in place"

[Adrian Robert]

I compiled a fresh CVS emacs 21.3.50 as of 2004/04/03.  In the INSTALL 
file there is the text:

---------
7) Run `make' in the top directory of the Emacs distribution to finish
building Emacs in the standard way.  The final executable file is
named `src/emacs'.  You can execute this file "in place" without
copying it, if you wish; then it automatically uses the sibling
directories ../lisp, ../lib-src, ../info.
---------

Nothing in INSTALL.CVS appears to override this.

However, running:

> ./configure --with-xpm --with-jpeg --with-tiff --with-gif --with-png 
--with-x-toolkit=yes --with-x --prefix=/usr --sharedstatedir=/var/lib 
--libexecdir=/usr/lib --localstatedir=/var/lib 
--infodir=/usr/share/info --mandir=/usr/share/man --with-pop=yes
> make bootstrap
> src/emacs -q

will cause the freshly built emacs to load lisp files from 
/usr/share/emacs .  In my case an outdated "mwheel.elc" file ended up 
being used, causing a startup failure with:

'Autoloading failed to define function "mouse-wheel-mode'

Replacing the old mwheel.el under /usr/share/emacs with the new one 
fixed the problem.  But is there something I did wrong, or should the 
instructions be changed, or should the code be changed?

thanks,
Adrian