I noticed the same thing. I’m using WPMU and developing a report that contains data from multiple blogs. I was storing it in options on each blog with get_option and update_option, and that was working fine. But in the site-wide report, I am using switch_to_blog and trying to get options for the various blogs. For some blogs it works fine, but for most of them, what it gets is actually from the main blog (where blog_id = 1). I also tried get_blog_option, but it had the same result. I think I’m going to use get_site_option, etc., and just serialize an associative array with blog_id keys. But really, get_option should work properly when switching blogs. I looked at the code for a little while, and it looks OK to me.