"cat -v" does not work as expected on /proc files

Binary package hint: coreutils

"cat -v" works with plain files but will neither produce any output nor error if a file from proc file system is given as argument to "cat -v".

How to reproduce:
$ cat -v /proc/version_signature
$ echo $?
0
$ cat /proc/version_signature
Ubuntu 2.6.17-10.33-generic
$ echo $?
0

Background: In order to make my Conexant HSF modem work under Ubuntu I wanted to install a modem driver from www.linuxant.com. But its "hfsconfig" script does not work correctly because it relies on "cat -v" to read (and filter) files from proc file system.