Index: wp-includes/functions.php
===================================================================
--- wp-includes/functions.php	(revision 3749)
+++ wp-includes/functions.php	(working copy)
@@ -263,7 +263,6 @@
 			$option->option_value = preg_replace('|/+$|', '', $option->option_value);
 		if ( 'category_base' == $option->option_name )
 			$option->option_value = preg_replace('|/+$|', '', $option->option_value);
-		$value = maybe_unserialize($option->option_value);
 		$all_options->{$option->option_name} = apply_filters('pre_option_' . $option->option_name, $value);
 	}
 	return apply_filters('all_options', $all_options);