When compiling magit.el with emacs-24.3.50 (current):

Debugger entered--Lisp error: (wrong-type-argument listp 769)
  memq(&rest 769)

  (if (memq (quote &rest) arglist) most-positive-fixnum
    (length (remq (quote &optional) arglist)))
  (let ((arglist 
	 (if (byte-code-function-p function) 
	     (aref  function 0) 
	   (second function)))) 
    (if (memq (quote &rest)  arglist) 
	most-positive-fixnum 
      (length (remq (quote &optional) arglist))))
  (if (subrp function) (let ((max (cdr (subr-arity
  function)))) (if (eq (quote many) max) most-positive-fixnum
  max)) (if (eq (quote macro) (car-safe function)) (setq
  function (cdr function))) (let ((arglist (if
  (byte-code-function-p function) (aref function 0) (second
  function)))) (if (memq (quote &rest) arglist)
  most-positive-fixnum (length (remq (quote &optional)
  arglist)))))

  magit-max-args-internal(delete-directory)
  (>= (magit-max-args-internal (quote delete-directory)) 2)

  (if (>= (magit-max-args-internal (quote delete-directory))
  2) (defalias (quote magit-delete-directory) (quote
  delete-directory)) (defun magit-delete-directory (directory
  &optional recursive) "Deletes a directory named DIRECTORY.
  If RECURSIVE is non-nil,\nrecursively delete all of
  DIRECTORY's contents as well.\n\nDoes not follow symlinks."
  (if (or (file-symlink-p directory) (not (file-directory-p
  directory))) (delete-file directory) (if recursive (dolist
  (file (directory-files directory (quote full)
  "\\([^.]\\|\\.\\([^.]\\|\\..\\)\\).*"))
  (magit-delete-directory file recursive))) (delete-directory
  directory))))

  (progn (defun magit-max-args-internal (function) "Returns
  the maximum number of arguments accepted by FUNCTION." (if
  (symbolp function) (setq function (symbol-function
  function))) (if (subrp function) (let ((max (cdr (subr-arity
  function)))) (if (eq (quote many) max) most-positive-fixnum
  max)) (if (eq (quote macro) (car-safe function)) (setq
  function (cdr function))) (let ((arglist (if
  (byte-code-function-p function) (aref function 0) (second
  function)))) (if (memq (quote &rest) arglist)
  most-positive-fixnum (length (remq (quote &optional)
  arglist)))))) (if (functionp (quote start-file-process))
  (defalias (quote magit-start-process) (quote
  start-file-process)) (defalias (quote magit-start-process)
  (quote start-process))) (unless (fboundp (quote
  string-match-p)) (defun string-match-p (regexp string
  &optional start) "Same as `string-match' except this
  function does not\nchange the match data." (let
  ((inhibit-changing-match-data t)) (string-match regexp
  string start)))) (if (fboundp (quote
  with-silent-modifications)) (defalias (quote
  magit-with-silent-modifications) (quote
  with-silent-modifications)) (defmacro
  magit-with-silent-modifications (&rest body) "Execute body
  without changing `buffer-modified-p'. Also, do not\nrecord
  undo information." (\` (set-buffer-modified-p (prog1
  (buffer-modified-p) (let (... before-change-functions
  after-change-functions) (\,@ body))))))) (if (>=
  (magit-max-args-internal (quote delete-directory)) 2)
  (defalias (quote magit-delete-directory) (quote
  delete-directory)) (defun magit-delete-directory (directory
  &optional recursive) "Deletes a directory named DIRECTORY.
  If RECURSIVE is non-nil,\nrecursively delete all of
  DIRECTORY's contents as well.\n\nDoes not follow symlinks."
  (if (or (file-symlink-p directory) (not (file-directory-p
  directory))) (delete-file directory) (if recursive (dolist
  (file (directory-files directory
  ... "\\([^.]\\|\\.\\([^.]\\|\\..\\)\\).*"))
  (magit-delete-directory file recursive))) (delete-directory
  directory)))))

  eval((progn (defun magit-max-args-internal (function)
  "Returns the maximum number of arguments accepted by
  FUNCTION." (if (symbolp function) (setq function
  (symbol-function function))) (if (subrp function) (let ((max
  (cdr (subr-arity function)))) (if (eq (quote many) max)
  most-positive-fixnum max)) (if (eq (quote macro) (car-safe
  function)) (setq function (cdr function))) (let ((arglist
  (if (byte-code-function-p function) (aref function 0)
  (second function)))) (if (memq (quote &rest) arglist)
  most-positive-fixnum (length (remq (quote &optional)
  arglist)))))) (if (functionp (quote start-file-process))
  (defalias (quote magit-start-process) (quote
  start-file-process)) (defalias (quote magit-start-process)
  (quote start-process))) (unless (fboundp (quote
  string-match-p)) (defun string-match-p (regexp string
  &optional start) "Same as `string-match' except this
  function does not\nchange the match data." (let
  ((inhibit-changing-match-data t)) (string-match regexp
  string start)))) (if (fboundp (quote
  with-silent-modifications)) (defalias (quote
  magit-with-silent-modifications) (quote
  with-silent-modifications)) (defmacro
  magit-with-silent-modifications (&rest body) "Execute body
  without changing `buffer-modified-p'. Also, do not\nrecord
  undo information." (\` (set-buffer-modified-p (prog1
  (buffer-modified-p) (let (... before-change-functions
  after-change-functions) (\,@ body))))))) (if (>=
  (magit-max-args-internal (quote delete-directory)) 2)
  (defalias (quote magit-delete-directory) (quote
  delete-directory)) (defun magit-delete-directory (directory
  &optional recursive) "Deletes a directory named DIRECTORY.
  If RECURSIVE is non-nil,\nrecursively delete all of
  DIRECTORY's contents as well.\n\nDoes not follow symlinks."
  (if (or (file-symlink-p directory) (not (file-directory-p
  directory))) (delete-file directory) (if recursive (dolist
  (file (directory-files directory
  ... "\\([^.]\\|\\.\\([^.]\\|\\..\\)\\).*"))
  (magit-delete-directory file recursive))) (delete-directory
  directory))))) nil)

  #[128 "xxxxxx" [lexical-binding quote eval progn] 5
   1610577]((defun magit-max-args-internal (function) "Returns
   the maximum number of arguments accepted by FUNCTION." (if
   (symbolp function) (setq function (symbol-function
   function))) (if (subrp function) (let ((max (cdr
   (subr-arity function)))) (if (eq (quote many) max)
   most-positive-fixnum max)) (if (eq (quote macro) (car-safe
   function)) (setq function (cdr function))) (let ((arglist
   (if (byte-code-function-p function) (aref function 0)
   (second function)))) (if (memq (quote &rest) arglist)
   most-positive-fixnum (length (remq (quote &optional)
   arglist)))))) (if (functionp (quote start-file-process))
   (defalias (quote magit-start-process) (quote
   start-file-process)) (defalias (quote magit-start-process)
   (quote start-process))) (unless (fboundp (quote
   string-match-p)) (defun string-match-p (regexp string
   &optional start) "Same as `string-match' except this
   function does not\nchange the match data." (let
   ((inhibit-changing-match-data t)) (string-match regexp
   string start)))) (if (fboundp (quote
   with-silent-modifications)) (defalias (quote
   magit-with-silent-modifications) (quote
   with-silent-modifications)) (defmacro
   magit-with-silent-modifications (&rest body) "Execute body
   without changing `buffer-modified-p'. Also, do not\nrecord
   undo information." (\` (set-buffer-modified-p (prog1
   (buffer-modified-p) (let ((buffer-undo-list t)
   before-change-functions after-change-functions) (\,@
   body))))))) (if (>= (magit-max-args-internal (quote
   delete-directory)) 2) (defalias (quote
   magit-delete-directory) (quote delete-directory)) (defun
   magit-delete-directory (directory &optional recursive)
   "Deletes a directory named DIRECTORY.  If RECURSIVE is
   non-nil,\nrecursively delete all of DIRECTORY's contents as
   well.\n\nDoes not follow symlinks." (if (or (file-symlink-p
   directory) (not (file-directory-p directory))) (delete-file
   directory) (if recursive (dolist (file (directory-files
   directory (quote full)
   "\\([^.]\\|\\.\\([^.]\\|\\..\\)\\).*"))
   (magit-delete-directory file recursive))) (delete-directory
   directory)))))

  (eval-and-compile (defun magit-max-args-internal (function)
  "Returns the maximum number of arguments accepted by FUNCTION." 
  (if (symbolp function) (setq function  (symbol-function function))) 
  (if (subrp function)
      (let ((max  (cdr (subr-arity function))))
	(if (eq (quote many) max)  most-positive-fixnum max)) 
    (if (eq (quote macro) (car-safe
  function)) (setq function (cdr function)))
    (let ((arglist
  (if (byte-code-function-p function) (aref function 0)
  (second function)))) (if (memq (quote &rest) arglist)
  most-positive-fixnum (length (remq (quote &optional)
  arglist)))))) (if (functionp (quote start-file-process))
  (defalias (quote magit-start-process) (quote
  start-file-process)) (defalias (quote magit-start-process)
  (quote start-process))) (unless (fboundp (quote
  string-match-p)) 
     (defun string-match-p (regexp string
  &optional start) "Same as `string-match' except this
  function does not\nchange the match data." (let
  ((inhibit-changing-match-data t)) (string-match regexp
  string start)))) (if (fboundp (quote
  with-silent-modifications)) (defalias (quote
  magit-with-silent-modifications) (quote
  with-silent-modifications)) (defmacro
  magit-with-silent-modifications (&rest body) "Execute body
  without changing `buffer-modified-p'. Also, do not\nrecord
  undo information." (\` (set-buffer-modified-p (prog1
  (buffer-modified-p) (let (... before-change-functions
  after-change-functions) (\,@ body))))))) (if (>=
  (magit-max-args-internal (quote delete-directory)) 2)
  (defalias (quote magit-delete-directory) (quote
  delete-directory)) (defun magit-delete-directory (directory
  &optional recursive) "Deletes a directory named DIRECTORY.
  If RECURSIVE is non-nil,\nrecursively delete all of
  DIRECTORY's contents as well.\n\nDoes not follow symlinks."
  (if (or (file-symlink-p directory) (not (file-directory-p
  directory))) (delete-file directory) (if recursive (dolist
  (file (directory-files directory
  ... "\\([^.]\\|\\.\\([^.]\\|\\..\\)\\).*"))
  (magit-delete-directory file recursive))) (delete-directory
  directory)))))

  eval-buffer(#<buffer *load*> nil
  "/export/WRKOBJDIR/devel/magit/work/magit-1.2.0/magit.el"
  nil t) ; Reading at buffer position 28731

  load-with-code-conversion("/export/WRKOBJDIR/devel/magit/work/magit-1.2.0/magit.el"
  "/export/WRKOBJDIR/devel/magit/work/magit-1.2.0/magit.el"
  nil nil)

  load("/export/WRKOBJDIR/devel/magit/work/magit-1.2.0/magit.el" nil nil t)
  load-file("/export/WRKOBJDIR/devel/magit/work/magit-1.2.0/magit.el")
  call-interactively(load-file record nil)
  command-execute(load-file record)
  execute-extended-command(nil "load-file")
  call-interactively(execute-extended-command nil nil)
  command-execute(execute-extended-command)

says use Git version.