Version 1.8.0:

    $ ruby -0777 -ne 'puts $FILENAME' .bash*
    .bash_history
    .bash_profile
    .bashrc
    .bashrc.funcs
    .bashrc.mine
    .bashrc.ode

Version 1.8.1:

    $ ruby -0777 -ne 'puts $FILENAME' .bash* 
    .bash_history
    .bash_history
    .bash_history
    .bash_history
    .bash_history
    .bash_history
    .bash_history
    .bash_history
    .bash_history
    .bash_history
    ...

It appears that gets no longer proceeds to the next input file
automatically when $/=0777.  (Tested on x86 and alpha)

Aron