> Why not reuse the existing logic which calculates exe if -od is set? I don't see any reason why something should work with only -of but not -od.

Is a simplification because I don't see is realistic to use `-od` with `--makedep*` and it greatly simplifies the code. I would keep it like this and if anybody needs it in the future it can be extended. I have the feeling nobody ever will (famous last words :P).