It looks like the old limit of days or posts option was changed to "blog pages show at most X posts". Now, while I don't really mind that for the front page, it also affects archive pages and thus completely breaks archives. What's the point of having, say, an archive for the year that only shows 25 posts?
Needless to say, archives of all kinds show show as many posts as there are (or at least give us that option!).
Please fix :-)