By the way, here is the output I see when I run source hacking/env-setup. Are the "no previously-included directories found" statements errors, or just informational?
$ source hacking/env-setup
running egg_info
creating lib/ansible.egg-info
writing requirements to lib/ansible.egg-info/requires.txt
writing lib/ansible.egg-info/PKG-INFO
writing top-level names to lib/ansible.egg-info/top_level.txt
writing dependency_links to lib/ansible.egg-info/dependency_links.txt
writing manifest file 'lib/ansible.egg-info/SOURCES.txt'
reading manifest file 'lib/ansible.egg-info/SOURCES.txt'
reading manifest template 'MANIFEST.in'
no previously-included directories found matching 'v2'
no previously-included directories found matching 'docsite'
no previously-included directories found matching 'ticket_stubs'
no previously-included directories found matching 'packaging'
no previously-included directories found matching 'test'
no previously-included directories found matching 'hacking'
no previously-included directories found matching 'lib/ansible/modules/core/.git'
no previously-included directories found matching 'lib/ansible/modules/extras/.git'
writing manifest file 'lib/ansible.egg-info/SOURCES.txt'
Setting up Ansible to run out of checkout...
PATH=/home/ansible-user/ansible/bin:/usr/lib64/qt-3.3/bin:/usr/local/bin:/bin:/usr/bin:/usr/local/sbin:/usr/sbin:/home/ansible-user/.local/bin:/home/ansible-user/bin
PYTHONPATH=/home/ansible-user/ansible/lib:
MANPATH=/home/ansible-user/ansible/docs/man:
Remember, you may wish to specify your host file with -i
Done!