Bug in pg_restore or in postmaster itself?

When using "pg_restore -S postgres -s -vcd DBNAME bkupfile" on an
existing database, I get the following error:

pg_restore: connecting to database for restore
pg_restore: dropping RULE au_d_assigned_template
pg_restore: dropping RULE au_u_assigned_template
... More rules, triggers, constraints, indexes and functions removed
pg_restore: dropping ACL au_assigned_template
pg_restore: dropping TABLE au_assigned_template
pg_restore: NOTICE:  rule au_d_assigned_template on table
assigned_template depends on table au_assigned_template
pg_restore: NOTICE:  rule au_u_assigned_template on table
assigned_template depends on table au_assigned_template
pg_restore: [archiver (db)] could not execute query: ERROR:  Cannot drop
table au_assigned_template because other objects depend on it
    Use DROP ... CASCADE to drop the dependent objects too
pg_restore: *** aborted because of error

I find it odd that it refuses to drop table au_assigned_template because
the two rules depend on it when the rules have already been dropped.

If I use the -vCd OTHERDB option and no database exists, it works fine.

I'm using version 7.3.4 on RHEL 3.

Joseph