Direct commit to fix warnings with fmake when building from top-level.
The top-level Makefile.inc1 uses 'make -C release -V' to lookup revision
information, which causes Makefile.vm and Makefile.vagrant to be included.
fmake has 2 issues here:
- It doesn't like the empty result of .if ${VAR:Mfoo}
- It doesn't like .if ${loop_item} ==