I did a fresh checkout of revision 1917 and autogen.sh produces several 
warnings, although the configure and make stages are OK.  I am using 
relatively new versions of autoconf and automake:

automake (GNU automake) 1.11
autoconf (GNU Autoconf) 2.64

When building, a lot of warnings is a red flag to me.  I've studied the 
code and am attaching the fixes.  autogen.sh now runs cleanly for me 
with a few informational messages.

Below are explanations of what was going on and attached are patches to 
remove all the warnings.

   -- Bruce


acinclude.m4:17: warning: underquoted definition of grub_PROG_TARGET_CC
acinclude.m4:17:   run info '(automake)Extending aclocal'
acinclude.m4:17:   or see 
http://sources.redhat.com/automake/automake.html#Extending-aclocal

This can be fixed by adding [] around AC_DEFUN values in acinclude.m4, 
e.g.:

AC_DEFUN(grub_PROG_TARGET_CC,

needs to be changed to

AC_DEFUN([grub_PROG_TARGET_CC],

-- 16 places.
-------------

configure.ac:42: warning: AC_ARG_PROGRAM was called before 
AC_CANONICAL_TARGET
../../lib/autoconf/general.m4:1839: AC_CANONICAL_TARGET is expanded from...
configure.ac:42: the top level
configure.ac:42: warning: AC_ARG_PROGRAM was called before 
AC_CANONICAL_TARGET
../../lib/autoconf/general.m4:1839: AC_CANONICAL_TARGET is expanded from...
configure.ac:42: the top level
configure.ac:42: warning: AC_ARG_PROGRAM was called before 
AC_CANONICAL_TARGET
../../lib/autoconf/general.m4:1839: AC_CANONICAL_TARGET is expanded from...
configure.ac:42: the top level
configure.ac:42: warning: AC_ARG_PROGRAM was called before 
AC_CANONICAL_TARGET
../../lib/autoconf/general.m4:1839: AC_CANONICAL_TARGET is expanded from...
configure.ac:42: the top level

This can be fixed by moving line

   AM_INIT_AUTOMAKE()

to right after the line  AC_CANONICAL_TARGET.
------------------

configure.ac:176: required file `./config.rpath' not found

The can be fixed by `touch config.rpath`
-----------------
automake: no `Makefile.am' found for any configure output

I created a one line Makefile.am with the contents:

SUBDIRS = . po

This also fixes a warning generated by AM_GNU_GETTEXT which needed to be 
changed to AM_GNU_GETTEXT([external]) to avoid a complaint about a 
missing intl/ directory.  Adding an empty ABOUT-NLS was also needed.
-----------------
WARNING: C file isn't a module: hash-common.c
WARNING: C file isn't a module: pubkey.c
WARNING: C file isn't a module: ecc.c
WARNING: C file isn't a module: elgamal.c
WARNING: C file isn't a module: hmac-tests.c
WARNING: C file isn't a module: md.c
WARNING: C file isn't a module: rsa.c
WARNING: C file isn't a module: ac.c
WARNING: C file isn't a module: dsa.c
WARNING: C file isn't a module: primegen.c
WARNING: C file isn't a module: cipher.c

These are generated by util/import_gcry.py by copying (and in some cases 
modifying) the files in lib/libgcrypt to lib/libgcrypt-grub. It also 
creates cipher.h, memory.h, and types.h.

The warnings above appear to be spurious for autogen.sh

I added code to util/import_gcry.py  supress the warnings if a third 
parameter is passed.  I then changed autogen.sh to use:

python util/import_gcry.py lib/libgcrypt/ . NoWarn

In a release, the lib/libgcrypt-grub/ directory should be released and 
the lib/libgcrypt/ should probably be suppressed to avoid dependence on 
ruby for non-developers.