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All the FreeBSD build slaves seem to be experiencing the same symptom: ./configure --with-pydebug eventually results in this:
 gcc -pthread -c -fno-strict-aliasing -g -O0 -Wall -Wstrict-prototypes -O2 -pipe -fno-strict-aliasing -Wall -march=native -I. -I./Include -DPy_BUILD_CORE -o Modules/python.o ./Modules/python.c
What I find odd:
 % grep -e '-O2' Makefile | wc -l
 0
There are references to -O2 elsewhere, like in configure.ac|configure, but, the Makefile doesn't source any of those. (Right?)
This is occurring on all of my slaves as well as others, so I'm pretty sure it's not just specific to my environment.