I am not sure if the strip-eol option really does what the name
implies. Maybe it could be implemented such that all whitespace
characters (when isspace is true) are replaced with space, whitespace
following whitespace is removed and leading and trailing whitespace is
removed. That should be pretty portable, depending only on the isspace
function.
FYI: I added that option and it was designed specifically to avoid
breaking any existing Jamfiles that might want embedded newlines in
the result. 'strip-eol' only removes the final trailing newline and
this works fine for the case I was addressing, which is capturing
build options from a script (such as 'wx-config') to be inserted
into a command line. (This output usually consists of only a single
line with a single trailing newline.)