samba - Dec 2004 - Permission denied after successful mount of Windows share

I'm wanting to mount a Windows share from a Windows 2003 Server to a
Fedora Core 2 using Samba.
I run the following mount command (as root), which terminates with a 0
return code, but when I attempt to look at the mounted filesystem with
df or ls, I get a "Permission denied" error.

Here is the mount command (with user/pwd/machine altered) and debug
level 4...

mount -t smbfs -o
username=xxxx,password=xxxx,rw,fmask=770,dmask=777,debug=4,port=139
//machine/bayside\$ /mnt/backup/bayside
opts: port=139
mount.smbfs started (version 3.0.3-5)
added interface ip=129.223.92.99 bcast=129.223.92.255
nmask=255.255.255.0
Connecting to 129.223.92.11 at port 139
1486: session request ok
Serverzone is -36000
1486: session setup ok
1486: tconx ok

I also tried NOT specifying port=139, and it also failed.

Running the exact same mount command from a RedHat 7.3 box to the same
Windows 2003 server and the same share works correctly; the mount works
and I can see the files on the filesystem.

Here is the mount command (with user/pwd/machine altered) and debug
level 4...

mount -t smbfs -o
username=xxxx,password=xxxx,rw,fmask=770,dmask=777,debug=4
//machine/bayside\$ /mnt/backup/bayside
mount.smbfs started (version 2.2.3a)
added interface ip=129.223.92.16 bcast=129.223.92.255
nmask=255.255.255.0
resolve_lmhosts: Attempting lmhosts lookup for name machine<0x20>
getlmhostsent: lmhost entry: 127.0.0.1 localhost
resolve_hosts: Attempting host lookup for name machine<0x20>
resolve_wins: Attempting wins lookup for name machine<0x20>
resolve_wins: WINS server resolution selected and no WINS servers
listed.
name_resolve_bcast: Attempting broadcast lookup for name machine<0x20>
bind succeeded on port 0
nmb packet from 129.223.92.11(137) header: id=8987 opcode=Query(0)
response=Yes
    header: flags: bcast=No rec_avail=No rec_des=Yes trunc=No auth=Yes
    header: rcode=0 qdcount=0 ancount=1 nscount=0 arcount=0
    answers: nmb_name=AUBNE2-R2<20> rr_type=32 rr_class=1 ttl=300000
    answers   0 char `...\.   hex 600081DF5C0B
Got a positive name query response from 129.223.92.11 ( 129.223.92.11 )
tdb((null)): tdb_open_ex: could not open file
/var/cache/samba/unexpected.tdb: No such file or directory
tdb((null)): tdb_open_ex: could not open file
/var/cache/samba/unexpected.tdb: No such file or directory
tdb((null)): tdb_open_ex: could not open file
/var/cache/samba/unexpected.tdb: No such file or directory
Connecting to 129.223.92.11 at port 139
7586: session request ok
7586: session setup ok
7586: tconx ok

If someone can shed any light on why the newer version of Samba does not
work anymore, I'd appreciate knowing.

TIA, Mark