Usually bugs would involve unlikely sequences of operations or operations in unexpected states. But there have been very serious bugs involving wrong math (Intel Pentium) or cache failures leading to complete crashes (AMD Phenom). These two made it to production and were show-stoppers because OS devs could do very little about them (in the Phenom bug, they could, but with a noticeable performance hit). I don't think I've seen any production CISC chip completely free of bugs. OS devs have to do the testing and the circumventing.
I mean... typically x86 chips have DOZENS of documented bugs.
http://en.wikipedia.org/wiki/Pentium_FDIV_bug http://en.wikipedia.org/wiki/AMD_Phenom
Perhaps we need to incentivize software developers with fear of execution, or something.
There certainly are a lot of hardware bugs in cpus -- it's just that most of them get fixed before anyone outside the cpu company ever sees them.
But really, I have only ever experienced one bug in a compiler (that I hadn't written) but it was such an odd experience, like the patient having Lupus.
[1] I work on Visual Studio so I have found compiler/debugger bugs as I am generally using 'in development' bits, but far more often than not the bug turns out to be mine and mine alone :)