Comment 2 for bug 1036962

(declaim (inline test test-2))

(defun test-2 (n stream &optional (offset 0))
  (ecase n
    (1 (sb-sys:sap-ref-8 stream offset))
    (3 (sb-sys:sap-ref-32 stream offset))))

(defun test (n stream)
  (test-2 n stream))

(defun offset (stream)
  (the (unsigned-byte 8) (test 1 stream)))

Can trigger a note, but it's not so strange anymore, the usual stuff from SB-C::NOTE-BLOCK-DELETION looking up symbols the source tree. And THE no longer influences it.