When using logrotate with the following config for e.g.
squid:

/var/log/squid/squid.logrotate {
    daily
    rotate 0
    ifempty
    nomissingok
    create
    postrotate
      /usr/sbin/squid -k rotate
    endscript
}

logrotate does not do anything but removing
/var/log/squid/squid.logrotate - older log files
will not be removed, but even worse, no new log
file is created and the postrotate script is not
executed.
A simple workaround is to set the number of rotations
to "1". Then, logrotate does its job as expected.

BTW, logrotate does not react correctly on the --usage
argument. Refering to the man page, a usage message, a
version indicator and a copyright message will be displayed.
However, I can only see a usage message.

The version of the logrotate RPM is: logrotate-3.2-1