The fonts in the pilfonts directory called "*.pbm" are actually PNG images files (look at the magic number at the top of the file). Since PIL does not automatically load the PNG file wrapper, this can be pretty confusing. If the files were renamed from .pbm to .png, it would be better.
Also, metrics.dat should have the -kb flag set in the CVS repository. Right now it is set to check out in ASCII mode by default and thus gets corrupted on PC's.