Issue with views

Has anyone else run into an issue where a simple view that encapsulates two tables joined by left outer join and selection criteria in a where clause that only pertains to the left column is returning different results via the view as opposed to just running the SQL from the view?

I tried to reproduce what you described:

drop table t1,t2;
create table t1 as select n, n as v1 from generate_series(0,6) n;
create table t2 as select n, n as v2 from generate_series(3,9) n;
create view v as select n, v1, v2 from t1 left outer join t2 using(n);
select * from v where v1<5;
select n, v1, v2 from t1 left outer join t2 using(n) where v1<5;

Both queries return:

 n | v1 | v2
---+----+----
 0 |  0 |
 1 |  1 |
 2 |  2 |
 3 |  3 |  3
 4 |  4 |  4
(5 rows)