smbfs and setuid in 5.3

I am running 5.3r11 and I am having difficulty with mount_smbfs.  Basically I
have a permissions problem that I cannot track down.  The remote filesystem
mounts correctly, and as root I can view and write to it correctly.  The
permissions to the base directory were originally 700, and sued to the owner of
the base I cannot stat the directory.  

I have tried changing the owner to another user, but had the same effect.  After
trying a few things I set the permissions to 750, and I could view and stat the
directory.  So I think it is some kind of UID bit not getting set correctly. 
The GID seems to set correctly, and for the moment is being used for a work
around.

I have mounted this filesystem on a FreeBSD 4.10(almost identical kernel) with
no problem using the 700 permission settings. So I'm fairly certain its not the
remote server, but just in case, the remote is a win2k pro machine.

Thank you.
-Brian Bailey