[OS X TeX] Problem Installing Ibycus4 Fonts

[K. Darcy Otto]

I'm having a lot of difficulty getting the Ibycus4 fonts working  
properly with a new installation of MacTeX.  I keep getting a  
Metafont error (see below).  Here is what I have done so far:

1. Moved the contents of the Ibycus pacjage (tex, doc and fonts  
directories) to ~/Library/texmf
2. Updated tex database (sudo texhash ~/Library/texmf)

At this point, the .tex document (with Greek in it) could be  
generated by pdfTeX, but no Greek would be rendered.  So, I did the  
following:

3. Edited /usr/local/teTeX/share/texmf.local/web2c/updmap.cfg, by  
adding a line Map iby.map
4. Reread the map files: sudo updmap
5. Updated tex database (sudo texhash ~/Library/texmf)

At this point, the Greek gets rendered, but I get a strange pause and  
then error from Metafont:

<---snip--->
This is METAFONT, Version 2.71828 (Web2C 7.5.5)

(/Users/Darcy/Library/texmf/fonts/source/public/ibycus4/fibr849.mf
(/usr/local/teTeX/share/texmf.tetex/fonts/source/public/cm/cmbase.mf) 
kpathsea: Running mktexmf grbase

! I can't find file `grbase'.
l.3 if unknown grbase: input grbase
                                     fi
Please type another input file name
! Emergency stop.
l.3 if unknown grbase: input grbase
                                     fi
Transcript written on fibr849.log.
mktexpk: `mf-nowin -progname=mf \mode:=ljfour; mag:=1+0/600;  
nonstopmode; input fibr849' failed.
kpathsea: Appending font creation commands to missfont.log.

Warning: /usr/local/teTeX/bin/powerpc-apple-darwin-current/pdflatex  
(file fibr8
49): Font fibr849 at 600 not found
<---snip--->

The missfont.log file contains the following line:

mktexpk --mfmode / --bdpi 600 --mag 1+0/600 --dpi 600 fibr849

Any help resolving this issue would be appreciated.
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