joyent/node@b0c15412270f32e00c268c578f07a1ed032323f5 introduced a
regression causing `process.argv[0]` to be invalid in node processes
spawned from `PATH` (without explicit path to executable file - for
example when using global node installation).
Instead of finding a correct path to the executable, `process.cwd()`
would be prepended to `process.argv[0]`.
With -e or --eval, require() can load module using relative path.
node -e 'require("./foo")'
But it can't load module from node_modules directory.
node -e 'require("foo")'
Fixes#1196.