I am not sure if this is a problem with the version of the rust compiler used or what not. PS I am running on a OSX machine.
rustboot:$ make
rustc -O --target i386-intel-linux --lib -o main.o -c main.rs
error: Unrecognized option: 'lib'.
make: *** [main.o] Error 101
rustc --version
rustc 0.10-pre (9e89ffc 2014-03-16 14:11:26 -0700)
host: x86_64-apple-darwin
Also I believe I have the latest version of the rustboot code.
rustboot:$ git pull
Already up-to-date.