[wp-testers] Apostrophe problem

[Podz]

Post content:
It's a test post of some apostrophe use. It Its It's

Error:
WordPress database error: [You have an error in your SQL syntax. Check 
the manual that corresponds to your MySQL server version for the right 
syntax to use near 's a test post of some apostrophe use. It Its It's', 
'', '', 'pu]
INSERT INTO wp_posts (ID, post_author, post_date, post_date_gmt, 
post_content, post_title, post_excerpt, post_status, comment_status, 
ping_status, post_password, post_name, to_ping, post_modified, 
post_modified_gmt, post_parent, menu_order) VALUES ('1300', '1', 
'2005-04-07 16:07:55', '2005-04-07 15:07:55', 'It's a test post of some 
apostrophe use. It Its It's', '', '', 'publish', 'open', 'open', '', 
'1300', '', '2005-04-07 16:07:55', '2005-04-07 15:07:55', '0', '0')

I assume it's the new entity encoding ?

Occurred with a build from a few days ago, I just updated and it persists.
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