Compiling vlc-0.86f on MSYS-MinGW

[StarbuckOnBSG]

I get this error:

/bin/m4: unrecognized option `--debugfile=autom4te.cache/traces.0t'
Try `/bin/m4 --help' for more information.
autom4te-2.61: /bin/m4 failed with exit status: 1

My configure stuff is the suggested one:

./bootstrap && \
PKG_CONFIG_PATH=/usr/win32/lib/pkgconfig \
PATH=/usr/win32/bin:$PATH \
CPPFLAGS="-I/usr/win32/include -I/usr/win32/include/ebml" \
LDFLAGS=-L/usr/win32/lib \
./configure \
--disable-gtk \
--enable-nls --enable-sdl --with-sdl-config-path=/usr/win32/bin \
--enable-ffmpeg --with-ffmpeg-mp3lame --with-ffmpeg-faac \
--with-ffmpeg-zlib --enable-faad --enable-flac --enable-theora \
--with-wx-config-path=/usr/win32/bin \
--with-freetype-config-path=/usr/win32/bin \
--with-fribidi-config-path=/usr/win32/bin \
--enable-caca --with-caca-config-path=/usr/win32/bin \
--with-xml2-config-path=/usr/win32/bin \
--with-dvdnav-config-path=/usr/win32/bin \
--disable-cddax --disable-vcdx --enable-goom \
--enable-twolame --enable-dvdread \
--disable-mkv \
--enable-debug

Any help?
Thanks in advance and for the great work!

Kara