The error looks like this:
Dumping under names emacs and emacs-21.4.1 make: *** [emacs] Segmentation fault make: *** Deleting file `emacs'
This is caused by a recent linux kernel feature called Exec-Shield.
The easiest way around this error is:
./configure && setarch i386 -R make
You can also run just the setarch bit after the original make dies.
I blog this simply to spread the word out. I’m not smart enough to have fixed this on my own. :-)