Trussing the failing command from the correct dircetory, nothing jumps out and smacks me in the face:
access("../bsd/system.pp",F_OK) = 0 (0x0)
open("../bsd/system.pp",O_RDONLY,0666) = 3 (0x3)
read(3,"{\n This file is part of the "...,32768) = 9346 (0x2482)
compat11.fstat(3,{ mode=-rw-r--r-- ,inode=1467049,size=9346,blksize=32768 }) = 0 (0x0)
compat6.lseek(0x3,0x0,0x0,0x1) = 9346 (0x2482)
compat6.mmap(0x0,0x8000,0x3,0x1002,0xffffffffffffffff,0x0,0x0) = 34370965504 (0x800ab5000)
compat6.mmap(0x0,0x8000,0x3,0x1002,0xffffffffffffffff,0x0,0x0) = 34370998272 (0x800abd000)
open("../bsd/",O_RDONLY,0666) = 4 (0x4)
compat11.fstat(4,{ mode=drwxr-xr-x ,inode=2013753,size=512,blksize=32768 }) = 0 (0x0)
compat11.getdents(0x4,0x800a1d550,0x400) = 396 (0x18c)
compat11.stat("../bsd/:º",0x7fffffffca50) ERR#2 'No such file or directory'
close(4) = 0 (0x0)
open("./",O_RDONLY,0666) = 4 (0x4)
compat11.fstat(4,{ mode=drwxr-xr-x ,inode=1778728,size=1024,blksize=32768 }) = 0 (0x0)
compat11.getdents(0x4,0x800a1d550,0x400) = 520 (0x208)
compat11.stat("./)$x7fffffffca50) ERR#2 'No such file or directory'
close(4) = 0 (0x0)
close(3) = 0 (0x0)
system.pp(37,2) Fatal: Cannot open include file "sysunixh.inc"
write(1,"system.pp(37,2) Fatal: Cannot op"...,63) = 63 (0x3f)
munmap(0x800aa5000,32768) = 0 (0x0)
munmap(0x800aad000,32768) = 0 (0x0)
Fatal: Compilation aborted
write(1,"Fatal: Compilation aborted\n",27) = 27 (0x1b)
munmap(0x800a8d000,32768) = 0 (0x0)
munmap(0x800a95000,32768) = 0 (0x0)
munmap(0x800a85000,32768) = 0 (0x0)
munmap(0x800a75000,32768) = 0 (0x0)
munmap(0x800a5d000,32768) = 0 (0x0)
munmap(0x800a65000,32768) = 0 (0x0)
munmap(0x800a6d000,32768) = 0 (0x0)
munmap(0x800a05000,262144) = 0 (0x0)
munmap(0x800a45000,32768) = 0 (0x0)
munmap(0x800a55000,32768) = 0 (0x0)
munmap(0x8009fd000,32768) = 0 (0x0)
munmap(0x800abd000,32768) = 0 (0x0)
munmap(0x800ab5000,32768) = 0 (0x0)
munmap(0x800a9d000,32768) = 0 (0x0)
munmap(0x8008fd000,1048576) = 0 (0x0)
exit(0x1)
process exit, rval = 1