I've just tried compiling BABL, with similar results.
compiling GLib says, point blank,
You must have libtool >= 2.2 installed to compile GLib.
Install the appropriate package for your distribution,
or get the source tarball at http://ftp.gnu.org/gnu/libtool/
so, it looks like recent Arch Linux libtool setup is somehow FUBARed
(In a way I can't fix by recompiling+installing the official source
over the top.)
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