GCONF_UNSET_INCLUDING_SCHEMA_NAMES (a constant which lives in
gconf-sources.h in the released version, and in gconf-value.h in the CVS
head) is defined using an enum, but with no explicit assignment, it gets
the value 0.  So it has no effect, and recursive unsets always fail to
remove schemas.

(As a consequence, gconftool-2 --recursive-unset /apps/panel results in a
broken panel configuration; the default panel profile directory still
exists, so the default schema doesn't get re-associated.)

I will attach a patch against the CVS head; obviously, the same change to
gconf-sources.h in the release version will work there.