Index: tools/builtin.py
===================================================================
--- tools/builtin.py	(revision 75729)
+++ tools/builtin.py	(working copy)
@@ -505,7 +505,7 @@
         if real_name:
             real_name = real_name[0]
         else:
-            real_nake = name
+            real_name = name
         search = feature.get_values('<search>', properties)
         usage_requirements = property_set.create(['<xdll-path>' + p for p in search])
         t = SearchedLibTarget(name, project, shared, real_name, search, a)
@@ -668,7 +668,7 @@
         fst = []
         for s in sources:
             if type.is_derived(s.type(), 'SEARCHED_LIB'):
-                n = s.real_name()
+                n = s.name()
                 if s.shared():
                     fsa.append(n)
 
Index: tools/common.py
===================================================================
--- tools/common.py	(revision 75729)
+++ tools/common.py	(working copy)
@@ -16,7 +16,10 @@
 import os.path
 import sys
 
-from b2.build import feature
+# for some reason this fails on Python 2.7(r27:82525)
+# from b2.build import virtual_target 
+import b2.build.virtual_target
+from b2.build import feature, type
 from b2.util.utility import *
 from b2.util import path
 
@@ -640,13 +643,13 @@
             if grist == '<base>':
                 result += os.path.basename(name)
             elif grist == '<toolset>':
-                result += join_tag(ungrist(f), 
+                result += join_tag(get_value(f), 
                     toolset_tag(name, target_type, prop_set))
             elif grist == '<threading>':
-                result += join_tag(ungrist(f),
+                result += join_tag(get_value(f),
                     threading_tag(name, target_type, prop_set))
             elif grist == '<runtime>':
-                result += join_tag(ungrist(f),
+                result += join_tag(get_value(f),
                     runtime_tag(name, target_type, prop_set))
             elif grist.startswith('<version:'):
                 key = grist[len('<version:'):-1]
@@ -654,7 +657,7 @@
                 if not version:
                     version = key
                 version = __re_version.match(version)
-                result += join_tag(ungrist(f), version[1] + '_' + version[2])
+                result += join_tag(get_value(f), version[1] + '_' + version[2])
             elif grist.startswith('<property:'):
                 key = grist[len('<property:'):-1]
                 property_re = re.compile('<(' + key + ')>')
@@ -670,15 +673,18 @@
                         assert(len(p) == 1)
                         result += join_tag(ungrist(f), p)
             else:
-                result += ungrist(f)
+                result += f
 
-        result = virtual_target.add_prefix_and_suffix(
+        result = b2.build.virtual_target.add_prefix_and_suffix(
             ''.join(result), target_type, prop_set)
         return result
 
 def join_tag(joiner, tag):
-    if not joiner: joiner = '-'
-    return joiner + tag
+    if tag:
+        if not joiner: joiner = '-'
+        return joiner + tag
+    else:
+        return tag
 
 __re_toolset_version = re.compile(r"<toolset.*version>(\d+)[.](\d*)")
 
@@ -687,7 +693,7 @@
 
     properties = prop_set.raw()
     tools = prop_set.get('<toolset>')
-    assert(len(tools) == 0)
+    assert(len(tools) == 1)
     tools = tools[0]
     if tools.startswith('borland'): tag += 'bcb'
     elif tools.startswith('como'): tag += 'como'