Built against `master` branch 801dd40666d1e6009920ad3ff755c7bb993b2a62:

If I have no wallet.dat file and run:

    bitcoind -usehd=0

A new wallet.dat file is created and an HD seed is assigned.

I see an error message in the source:

    "Error loading %s: You can't disable HD on an already existing HD wallet or create new non-HD wallets."

but that doesn't get shown because `fFirstRun` is true, and so the code which checks for `-usehd` values doesn't run.

If it's no longer possible to create non-HD wallets, specifying -usehd=0 when creating a wallet should be an error, and not get silently ignored.
if (CCryptoKeyStore::Unlock(_vMasterKey))
            {
                int64_t nStartTime = GetTimeMillis();
                crypter.SetKeyFromPassphrase(strNewWalletPassphrase, pMasterKey.second.vchSalt, pMasterKey.second.nDeriveIterations, pMasterKey.second.nDerivationMethod);
                pMasterKey.second.nDeriveIterations = pMasterKey.second.nDeriveIterations * (100 / ((double)(GetTimeMillis() - nStartTime)));
                nStartTime = GetTimeMillis();
                crypter.SetKeyFromPassphrase(strNewWalletPassphrase, pMasterKey.second.vchSalt, pMasterKey.second.nDeriveIterations, pMasterKey.second.nDerivationMethod);
                pMasterKey.second.nDeriveIterations = (pMasterKey.second.nDeriveIterations + pMasterKey.second.nDeriveIterations * 100 / ((double)(GetTimeMillis() - nStartTime))) / 2;
                if (pMasterKey.second.nDeriveIterations < 25000)
                    pMasterKey.second.nDeriveIterations = 25000;
                LogPrintf("Wallet passphrase changed to an nDeriveIterations of %i\n", pMasterKey.second.nDeriveIterations);
                if (!crypter.SetKeyFromPassphrase(strNewWalletPassphrase, pMasterKey.second.vchSalt, pMasterKey.second.nDeriveIterations, pMasterKey.second.nDerivationMethod))
                    return false;
                if (!crypter.Encrypt(_vMasterKey, pMasterKey.second.vchCryptedKey))
                    return false;
                CWalletDB(*dbw).WriteMasterKey(pMasterKey.first, pMasterKey.second);
                if (fWasLocked)
                    Lock();
                return true;
            }
        }
    }
    return false;
}
void CWallet::SetBestChain(const CBlockLocator& loc)
{
    CWalletDB walletdb(*dbw);
    walletdb.WriteBestBlock(loc);
}
bool CWallet::SetMinVersion(enum WalletFeature nVersion, CWalletDB* pwalletdbIn, bool fExplicit)