Are you sure about that?
.rvm/scripts/cd still has this at the top [1]:
# Source a .rvmrc file in a directory after changing to it, if it exists.
# To disable this fature, set rvm_project_rvmrc=0 in $HOME/.rvmrc
Also, the new security features that Wayne mentions in this post suggest that a
cd automatically leads to a check on the directory you
cd into. Doesn't that imply that rvm still has to plug itself into
cd? (I may be confused here.)
I have to admit the cd thing ended up throwing me for an interesting loop at one point. I was scripting and no matter what happened, cd was returning 0 (success) - even when the cd command was actually failing. I could not figure out for the life of me why the right exit status wasn't being reported. It turns out that rvm wasn't saving and then returning the exit status of cd itself. (So the exit status I was capturing wasn't actually that of cd.)
Long story short, two minutes in #rvm and Wayne had it fixed [2].
Edit: I think I see the confusion. Cldwalker is saying that he doesn't like rvm tinkering with cd. Bgentry is saying that rvm no longer automatically switches Ruby if it finds a .rvmrc in a folder (after you cd into it). That's right, but it doesn't change what is bothering Cldwalker: rvm does in fact still get in front of cd. (I think 'hijacking' is too strong, but I know what Cldwalker means by it.) If you use rvm, then by default every time you issue cd, rvm runs the code in [1] (part of which obviously punts to the built-in cd). You can disable this behavior, as Cldwalker says, by setting the environment variable rvm_project_rvmrc to 0. Unless I'm wrong, the default is still on.
[1] http://github.com/wayneeseguin/rvm/blob/master/scripts/cd
[2] http://github.com/wayneeseguin/rvm/commit/f9aa3adebcca547924...