[wp-testers] HTML output of <!--more--> tag not valid?

[Neil Green]

I was testing a new theme on my WordPress site yesterday and noticed  
I had a few old posts that contained the <!--more--> tag. A closer  
inspection of the code for the "More..." link on the web pages showed  
that WordPress had output <p> tags within <a href> tags and, as a  
result, the pages with this code wouldn't validate. Can someone  
confirm this is a bug and that I haven't done something braindead  
along the way? Thanks.