samba - Apr 2000 - SAMBA_2_0 and %u expansion in homes

Don't know if this is happening in [global] or not, but
with SAMBA_2_0 latest cvs, we're getting:
Apr 19 09:19:42 gate smbd[23055]: [2000/04/19 09:19:42, 0]
smbd/service.c:make_connection(554)
Apr 19 09:19:42 gate smbd[23055]:   Can't change directory to /home//profile
(No such file or directory)

smb.conf has:

[homes]
        comment = Home Directories
        path = /home/%U/profile
        read only = No
        create mask = 0750
        browseable = No
        oplocks = No

Any ideas?

Thanks!
Bruce