1. I believe bjam couldn't find the build system because of the mistake in libs/python/examle/boost-build.jam, which I have reported elsewhere.
2. I didn't notice the -h or -v switches. I now see that --help lists -v. But there is no -h. -v is different from --version in its output.
3. I see that I get the same problem whether there is a jamfile or not. bjam first looks for boost-build.jam, so if I run bjam from, say, C:\, I get the message about no build system, and no --help.
4. If bjam.exe will process -v before trying to load the build system, then couldn't you also look for --help and --verbose as well, rather than passing those args to the build system once it is found? So I beg to disagree with you when you say my proposed change can't be done.