initdb and version 7

I'm having problems running initdb with version 7.0. I am doing what I
normally do after compiler and installing previous versions, but it's 
failing during initdb, and that's not happened before.. Here's the 
console dump.

$ initdb --pgdata=/usr/local/pgsql.db
This database system will be initialized with username "postgres". This
user will own all the data files and must also own the server process.
Fixing permissions on pre-existing data directory //usr/local/pgsql.db
Creating database system directory /usr/local/pgsql.db/base Creating
database XLOG directory /usr/local/pgsql.db/pg_xlog Creating template
database in /usr/local/pgsql.db/base/template1
/usr/local/pgsql/bin/initdb: line 441: 338 Broken pipe cat "$TEMPLATE"
339 | sed -e "s/PGUID//$POSTGRES_SUPERUSERID/g" 340 Segmentation fault
|
"$PGPATH"/postgres $FIRSTRUN template1 initdb failed. Removing
/usr/local/pgsql.db. rm: cannot remove directory
&pi0;/usr/local/pgsql.db': Permission denied Failed. Removing temp file
/tmp/initdb.316.