The "GenericResourceDir doesn't point to a valid resource directory" warning in gs_res.ps doesn't test the correct condition. The current test only attempts 'status' on GenericResourceDir (Init) GenericResourcePathSep (gs_init.ps) which is incorrect if GenericResourceDir is a relative path as described in Use.htm section 8.1. For starters, in the case of a relative path, this test ends up looking for the GenericResourceDir in whatever working directory ghostscript was started in, rather than appending the relative path to the search path elements as Use.htm specifies. Moreover, the whole point of the search path behavior is to allow multiple Resource trees contributing to the total collection of resources, and it's to be expected that most of these will *not* contain Init/gs_init.ps. Most likely, that's only going to be in ghostscript's own as-installed Resource tree, probably the last one on the path. This test really needs to invoke the same search algorithm normally used to follow the resource search path, and only complain if it didn't find Init/gs_init.ps *anywhere*.
see also bug #694509.
After 8 years I no longer remember anything about this. The linked bug is marked as resolved/Fixed so I'm closing this one. If there is still a problem then can I ask that a new bug report is opened, along with a complete description of how to demonstrate the bug.