Blog Posts macros cannot display full body of a blog post

The following Macro used to work properly (or at least differently) on Confluence 3.5.9.

{blog-posts:spaces=*|max=1}

It would print the full text of the most recent blog post from any space.

I then upgraded to Confluence 4.0 and now, the above invocation is the same as setting content=list in the macro, thus making it impossible to add a full blog post to a page.