gcc-3.4.0 incorrect error message

["2boxers" <2boxers at comcast dot net>]

Considering the following code:

// pointer to functions
#include <iostream>
using namespace std;

int addition (int a, int b)
{ return (a+b); }

int subtraction (int a, int b)
{ return (a-b); }

int (*minus)(int,int) = subtraction;

int operation (int x, int y, int (*functocall)(int,int))
{
  int g;
  g = (*functocall)(x,y);
  return (g);
}

int main ()
{
  int m,n;
  m = operation (7, 5, addition);
  n = operation (20, m, minus);
  cout <<n;
  return 0;
}


While there is nothing wrong with the program code itself, there is a name
conflict with the object "minus".

gcc-3.2.2 kindly points this out with this message:
pointer4.cpp: In function `int main()':
pointer4.cpp:24: use of `minus' is ambiguous
pointer4.cpp:11: first declared as `int (*minus)(int, int)' here
/usr/include/c++/3.2.2/bits/stl_function.h:134: also declared as `
template<class _Tp> struct std::minus' here

gcc-3.4.0, however, erroneuosly states that minus has been undeclared:
pointer4.cpp: In function `int main()':
pointer4.cpp:24: error: `minus' undeclared (first use this function)
pointer4.cpp:24: error: (Each undeclared identifier is reported only once
for each function it appears in.)

Clearly the use of using namespace std; is not ideal form, however, it is
the message from gcc-3.4.0 that concerns me.

Thank you,
Charles Wilkins