OK, loading my system somehow tickles ASDF:
CL-USER> (asdf:load-system "circa-csm" :force t)
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "circa-csm")
 0[7]: returned T NIL #P"/Users/rpg/circa/code/csm/circa-csm.asd"
         #<ASDF/SYSTEM:SYSTEM "circa-csm"> 3564966734
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd" NIL NIL
 0[7]: (LOAD #P"/Users/rpg/lisp/asdf/asdf.asd" :EXTERNAL-FORMAT :DEFAULT)
; Loading /Users/rpg/lisp/asdf/asdf.asd
   1[7]: (LOCATE-SYSTEM "asdf/header")
   1[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd" #<SYSTEM "asdf/header"> 3568937280
   1[7]: (LOCATE-SYSTEM "asdf/driver")
   1[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd" #<SYSTEM "asdf/driver"> 3568937280
   1[7]: (LOCATE-SYSTEM "asdf/defsystem")
   1[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd" #<SYSTEM "asdf/defsystem"> 3568937280
   1[7]: (LOCATE-SYSTEM "asdf")
   1[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd" #<SYSTEM "asdf"> 3568937280
 0[7]: returned T
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf/defsystem")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf/defsystem"> 3568937280
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf/header")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf/header"> 3568937280
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf/driver")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf/driver"> 3568937280
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf-driver")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf-driver.asd" NIL NIL
 0[7]: (LOAD #P"/Users/rpg/lisp/asdf/asdf-driver.asd" :EXTERNAL-FORMAT :DEFAULT)
; Loading /Users/rpg/lisp/asdf/asdf-driver.asd
   1[7]: (LOCATE-SYSTEM "asdf-driver")
   1[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf-driver.asd" #<SYSTEM "asdf-driver"> 3568455294
 0[7]: returned T
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf-driver")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf-driver.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf-driver"> 3568455294
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf-driver")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf-driver.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf-driver"> 3568455294
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf-driver")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf-driver.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf-driver"> 3568455294
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf/header")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf/header"> 3568937280
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf/driver")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf/driver"> 3568937280
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "asdf/defsystem")
 0[7]: returned T NIL #P"/Users/rpg/lisp/asdf/asdf.asd"
         #<ASDF/SYSTEM:SYSTEM "asdf/defsystem"> 3568937280
 0[7]: (ASDF/ACTION:PERFORM #<ASDF/LISP-ACTION:PREPARE-OP >
                            #<ASDF/SYSTEM:SYSTEM "asdf">)
 0* (MULTIPLE-VALUE-PROG1 (PROGN #<STANDARD-METHOD
                                   ASDF/ACTION:PERFORM
                                   :BEFORE
                                   (ASDF/OPERATION:OPERATION
                                    ASDF/COMPONENT:COMPONENT)>
                                 #<STANDARD-METHOD
                                   ASDF/ACTION:PERFORM
                                   (ASDF/LISP-ACTION:PREPARE-OP
                                    ASDF/COMPONENT:COMPONENT)>)
      #<STANDARD-METHOD ASDF/ACTION:PERFORM :AFTER
        (ASDF/OPERATION:OPERATION ASDF/COMPONENT:COMPONENT)>)
 0[7]: returned NIL
 0[7]: (ASDF/ACTION:PERFORM #<ASDF/LISP-ACTION:PREPARE-OP >
                            #<ASDF/COMPONENT:MODULE "asdf" "build">)
 0* (MULTIPLE-VALUE-PROG1 (PROGN #<STANDARD-METHOD
                                   ASDF/ACTION:PERFORM
                                   :BEFORE
                                   (ASDF/OPERATION:OPERATION
                                    ASDF/COMPONENT:COMPONENT)>
                                 #<STANDARD-METHOD
                                   ASDF/ACTION:PERFORM
                                   (ASDF/LISP-ACTION:PREPARE-OP
                                    ASDF/COMPONENT:COMPONENT)>)
      #<STANDARD-METHOD ASDF/ACTION:PERFORM :AFTER
        (ASDF/OPERATION:OPERATION ASDF/COMPONENT:COMPONENT)>)
 0[7]: returned NIL
 0[7]: (ASDF/ACTION:PERFORM #<ASDF/LISP-ACTION:PREPARE-OP >
                            #<ASDF/LISP-ACTION:CL-SOURCE-FILE
                              "asdf" "build" "asdf">)
 0* (MULTIPLE-VALUE-PROG1 (PROGN #<STANDARD-METHOD
                                   ASDF/ACTION:PERFORM
                                   :BEFORE
                                   (ASDF/OPERATION:OPERATION
                                    ASDF/COMPONENT:COMPONENT)>
                                 #<STANDARD-METHOD
                                   ASDF/ACTION:PERFORM
                                   (ASDF/LISP-ACTION:PREPARE-OP
                                    ASDF/COMPONENT:COMPONENT)>)
      #<STANDARD-METHOD ASDF/ACTION:PERFORM :AFTER
        (ASDF/OPERATION:OPERATION ASDF/COMPONENT:COMPONENT)>)
 0[7]: returned NIL
 0[7]: (ASDF/ACTION:PERFORM #<ASDF/LISP-ACTION:LOAD-OP >
                            #<ASDF/LISP-ACTION:CL-SOURCE-FILE
                              "asdf" "build" "asdf">)
 0* (MULTIPLE-VALUE-PROG1 (PROGN #<STANDARD-METHOD
                                   ASDF/ACTION:PERFORM
                                   :BEFORE
                                   (ASDF/OPERATION:OPERATION
                                    ASDF/COMPONENT:COMPONENT)>
                                 #<STANDARD-METHOD
                                   ASDF/ACTION:PERFORM
                                   (ASDF/LISP-ACTION:LOAD-OP
                                    ASDF/LISP-ACTION:CL-SOURCE-FILE)>)
      #<STANDARD-METHOD ASDF/ACTION:PERFORM :AFTER
        (ASDF/OPERATION:OPERATION ASDF/COMPONENT:COMPONENT)>)
   1[7]: (LOAD
            #P"/Users/rpg/.cache/common-lisp/acl-8.2-macosx-x64/Users/rpg/lisp/asdf/build/asdf.fasl")
; Fast loading
;    /Users/rpg/.cache/common-lisp/acl-8.2-macosx-x64/Users/rpg/lisp/asdf/build/asdf.fasl
   1[7]: returned T
 0[7]: returned T
 0[7]: (ASDF/FIND-SYSTEM:LOCATE-SYSTEM "circa-csm")
 0[7]: returned T NIL #P"/Users/rpg/circa/code/csm/circa-csm.asd"
         #<ASDF/SYSTEM:SYSTEM "circa-csm"> 3564966734