When using the built-in functions of latex-package.eclass to install a type1 postcript font for tex, the font is installed in a directory named pfb. This is wrong as the directory should be type1. The attached patch fixes this bug.
Created attachment 71676 [details, diff] Patch for latex-package.eclass
Thanks for noticing this, it should be corrected soon in the official tree.
Fixed in CVS. Thanks for the report and the patch.