Android Deploy Failed with Code 5 when using "Deploy local Qt libraries to temporary directory" option

After Reading Dependencies, the following error was seen in the verbose trace:
(Note that it appears the path "C:/Users/Michael Trahearn/AppData/Local/Temp/android-build-

{1004f051-f953-4fcc-af3b-25e99ca4cdb0}//lib/libgnustl_shared.so" appears to be mis-split up!)

readelf: Error: 'C:/Qt/Qt5.2.0/5.2.0-rc1/android_armv7/lib/libgnustl_shared.so': No such file
C:\Android-Support\android-ndk-r9b/toolchains/arm-linux-androideabi-4.8/prebuilt/windows/bin/arm-linux-androideabi-strip.exe: 'C:/Users/Michael': No such file
C:\Android-Support\android-ndk-r9b/toolchains/arm-linux-androideabi-4.8/prebuilt/windows/bin/arm-linux-androideabi-strip.exe: 'Trahearn/AppData/Local/Temp/android-build-{1004f051-f953-4fcc-af3b-25e99ca4cdb0}

//lib/libgnustl_shared.so': No such file

...and then....

Copying GNU STL library
– Copied C:/Users/Michael Trahearn/AppData/Local/Temp/android-build-

{1004f051-f953-4fcc-af3b-25e99ca4cdb0}

/lib/libgnustl_shared.so
– Skipping file C:\Qt\Qt5.2.0\5.2.0-rc1\android_armv7//lib/libgnustl_shared.so. Same or newer file already in place.
– Deploying /lib/libgnustl_shared.so to device.
Copying file to device failed!
The process "C:\Qt\Qt5.2.0\5.2.0-rc1\android_armv7\bin\androiddeployqt.exe" exited with code 5.

This is repeatable when deploying to Nexus 7 2013 (Android 4.4) and HTC One X (Android 4.2.2)

Deploying with "Bundle Qt libraries in APK" works fine. However for development, it takes much longer to keep re-bundling the libraries in the APK every time you want to test an incremental change, which is why I tried the local library option.