Ok, I couldn't help but try it. I've got a 2G bochs disk image for Debian
(really a 250M holey file) I can copy and throw away.

A `rm -rfv *` as root from / does:

(removes a bunch of files, including "rm" from bin and so forth), then loops printing:
removing all entries of directory `dev/pts'
removing the directory itself `dev/pts'
removing all entries of directory `dev/pts'
removing the directory itself `dev/pts'
removing all entries of directory `dev/pts'
removing the directory itself `dev/pts'
removing all entries of directory `dev/pts'
removing the directory itself `dev/pts'
removing all entries of directory `dev/pts'
removing the directory itself `dev/pts'

It's apparently having issues with removing the mount point of the devpts
filesystem.

:)
-Eric 

-- 
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        Eric H. Weigle -- http://public.lanl.gov/ehw/
"They that can give up essential liberty to obtain a little
temporary safety deserve neither" -- Benjamin Franklin
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