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As suggested by another gcc developer in...

http://gcc.gnu.org/ml/gcc/2006-08/msg00446.html

...the following patch eliminates the error when python is built with gcc 
trunk...

--- Python-2.4.3/Objects/intobject.c.org        2006-08-23 
23:49:33.000000000 -0400
+++ Python-2.4.3/Objects/intobject.c    2006-08-23 23:52:01.000000000 
-0400
@@ -479,7 +479,7 @@
                return DIVMOD_ERROR;
        }
        /* (-sys.maxint-1)/-1 is the only overflow case. */
-       if (y == -1 && x < 0 && x == -x)
+       if (y == -1 && x < 0 && ((unsigned)x) == -(unsigned)x)
                return DIVMOD_OVERFLOW;
        xdivy = x / y;
        xmody = x - xdivy * y;

This change allows python to completely pass its make check now when built 
with gcc trunk.