The latest ConTeXt (ver: 2007.01.18 12:57 MKII  fmt: 2007.1.18  int: english/english) will not process my files. The log file has:
...
(/usr/local/teTeX/share/texmf.local/tex/context/base/type-akb.tex))kpathsea: Running mktextfm lmmi7
/usr/local/teTeX/share/texmf/web2c/mktexnam: Could not map typeface abbreviation mm for lmmi7.
/usr/local/teTeX/share/texmf/web2c/mktexnam: Need to update /usr/local/teTeX/share/texmf.tetex/fonts/map/fontname/special.map?
mktextfm: Running mf-nowin -progname=mf \mode:=ljfour; mag:=1; nonstopmode; input lmmi7
This is METAFONT, Version 2.71828 (Web2C 7.5.5)
kpathsea: Running mktexmf lmmi7

! I can't find file `lmmi7'.
<*> ...e:=ljfour; mag:=1; nonstopmode; input lmmi7
...
grep: lmmi7.log: No such file or directory
mktextfm: `mf-nowin -progname=mf \mode:=ljfour; mag:=1; nonstopmode; input lmmi7' failed to make lmmi7.tfm.

I installed it just as I have previous versions.

Alan