Does that option do anything except supply -maltivec implicitly?
As explained in the install docs, it does two things, enables -maltivec by default, and enables -mabi=altivec by default.
This option has been deprecated and removed in the upcoming gcc-4.0 release. The preferred solution is to configure for an altivec target instead, e.g. powerpc-linux-gnualtivec.
I see we still have the install docs for --enable-altivec. I will remove them.
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Jim Wilson, GNU Tools Support, http://www.SpecifixInc.com