One problem though is that this script doesn't like 'space' in font name. Anyway after rename font file from 'Consolas Bold.ttf' to 'Consolas- b.ttf' it works just fine.
Oops, chalk one up for the shell script newbie. My test files were all the original Windows names, "CONSOLA.TTF" etc. And boy, mucking around for 15 minutes and I already hate spaces in filenames. Sorry about that.
Persistence pays off, got cozy with the IFS variable and all seems to be well. Thanks again for the tip, Alexey.
~ Daniel