some things to ponder:

1. are you sure True Type support is compiled in ??

   GD::Image->stringTTF ...
   It requires that libgd to have been
   compiled with TrueType support, and for the
   appropriate TrueType font to be installed on your
   system.
   

2. Does test.ttf exist as per above.
3. what does die $! say

mitd-Made in the Dark
'My favourite colour appears to be grey.'