This seems to be the problem on armel:
configure: o['variables']['arm_fpu'] = 'vfpv2'
It probably should be "vfp" instead of "vfpv2". A GCC man page says:
-mfpu=name
-mfpe=number
-mfp=number
This specifies what floating point hardware (or hardware emulation)
is available on the target. Permissible names are: fpa, fpe2,
fpe3, maverick, vfp, vfpv3, vfpv3-fp16, vfpv3-d16, vfpv3-d16-fp16,
vfpv3xd, vfpv3xd-fp16, neon, neon-fp16, vfpv4, vfpv4-d16,
fpv4-sp-d16 and neon-vfpv4. -mfp and -mfpe are synonyms for
-mfpu=fpenumber, for compatibility with older versions of GCC.
The absence of "vfpv2" from the list is a bit weird, but VFPv1 is
obsolete so perhaps VFPv2 was the only kind of VFP of interest at the
time they added the option to GCC.
Edmund