When trying to figure out the origin of the problem, I have realized so far, that it is obviously stems from a problem during my local configure process: The xgcc I'm just building tries to pipe the asm result through my "host-as" instead of the "target-as". I will myself have to look for why configure chose the wrong assembler. Unfortunately, the error message I got from "make" was not really instructive. So: Sorry for the noise.
Yours, Björn