Multiple profile activation conditions broken

Having multiple profile activation conditions behaves in an unexpected manner. It doesn't cause a build failure, but the actual algorithm for activating a profile is very different from expected. My expectation was that if you include multiple conditions, they are ANDed together. However what appears to happen is that the conditions overwrite each other.

If an <os> condition is added, it overrides any <property> or <file> conditions regardless of their results.
If a <file> condition is added, it overrides any <property> condition regardless of results

The following table gives a sample of conditions matched, and whether the profile was activated as a result:

Property File OS Result Expected
T T - T T
T F - F F
F T - T F
F F - F F
T - T T T
T - F F F
F - T T F
F - F F F
F F T T F
T T F F F