Unexpected behaviour with new --dotfiles option

Firstly, I love this new option so thank you for making it available.

Secondly, I don't know if this is a bug as it may well be a misunderstanding
on my part which is why I'm writing to this list first.  In my ~/dotfiles/ (or
stow) directory I have my .emacs.d/ directory with its associated files inside
an emacs (package) directory i.e. ~/dotfiles/emacs/.emacs.d/.  So, in pre-2.3.1
versions of GNU Stow I would stow emacs as follows:

$ cd ~/dotfiles
$ stow emacs

Now with the new --dotfiles option I was hoping I could replace
~/dotfiles/emacs/.emacs.d/ with ~/dotfiles/dot-emacs.d/ and stow it as follows:

$ cd ~/dotfiles
$ stow --dotfiles dot-emacs.d                                        (1)

However, this results in symlinks for example as follows in my home
(~) directory:

init.el -> dotfiles/dot-emacs.d/init.el
settings.el -> dotfiles/dot-emacs.d/settings.el
org-settings -> dotfiles/dot-emacs.d/org-settings.el

instead of the single symlink as follows:

.emacs.d -> dotfiles/dot-emacs.d/

I've tried specifying --target=../.emacs.d/ but Stow states it is not a valid
directory.  If I first create the ~/.emacs.d directory and repeat (1)
specifying --target=../.emacs.d the symlinks are inserted into ~/.emacs.d.

Is this what others do? Or do they retain the package directory.

Is this the expected behaviour with this new option and/or a misunderstanding
on my part.

Thanks for your time and for GNU Stow.

Kind regards,

Niall