This is already fixed in the trunk and branch; use "easy_install
setuptools==dev06" to upgrade to the latest 0.6 branch version.

please add
  from distutils import log
in setuptools.command.sdist.py

setuptools version: setuptools-0.6c8-py2.4.egg

i got an error with installing a python module which i checked out from svn.
from traceback:
"""log.warn("unrecognized .svn/entries format in %s", dirname)
NameError: global name 'log' is not defined
"""