diff -r e5750c6716eb -r 784606ae0029 mercurial/localrepo.py
--- a/mercurial/localrepo.py	Fri Apr 13 21:35:48 2012 -0500
+++ b/mercurial/localrepo.py	Fri Apr 13 22:23:45 2012 -0500
@@ -1848,8 +1848,8 @@
             elif revlog == mf:
                 clnode = mfs[x]
                 mdata = mf.readfast(x)
-                for f in changedfiles:
-                    if f in mdata:
+                for f in mdata:
+                    if f in changedfiles:
                         fnodes.setdefault(f, {}).setdefault(mdata[f], clnode)
                 count[0] += 1
                 self.ui.progress(_('bundling'), count[0],