I just compiled this CVS version of gcc:
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Reading specs from /hda3/gcc/lib/gcc/i686-pc-linux-gnu/3.5.0/specs
Configured with: ../gcc/configure --prefix=/hda3/gcc --enable-languages=c,c++,f95
Thread model: posix
gcc version 3.5.0 20040526 (experimental)
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I nailed the error to these 5 lines:

      subroutine readcv(title)
      character*(*) title(*)
      title(1)='title'
      return
      end
                                                                               
                                    
And the problem is:
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b2:/hda3/home/milan/c31a2# gfortran -c dynio.f
f951: ../../gcc/gcc/fortran/trans-decl.c:1703: gfc_trans_deferred_vars:
Assertion `((enum tree_code) (sym->backend_\decl)->common.code) == PARM_DECL'
failed.
dynio.f: In function `readcv':
dynio.f:4: internal compiler error: Aborted
Please submit a full bug report,
with preprocessed source if appropriate.
See <URL:http://gcc.gnu.org/bugs.html> for instructions.