less -r broken with long lines

Hi,
There's something about how the new less version handles lines greater
than the virtual terminal's size.

Test case on an xterm/rxvt/screen session:

less -r /etc/syslog.conf  - you won't see the $FreeBSD$ id tag because
of the long line regarding to /var/log/messages. Try resizing your
terminal so that this line fits in the right number of columns. You'll
see the problem disappear.

less -r /etc/rc.firewall - since there are no long lines in the first
page, you won't notice the problem

Everything works fine if less is used without the -r argument or if less
is run from the console.

Does this ring any bell to anyone?

Regards.
-- 
Rui Paulo