gpg --recv-keys fails the ~/.gnupg directory does not exist:
$ gpg --recv-keys 493B3065
gpg: directory `/home/test/.gnupg' created
gpg: new configuration file `/home/test/.gnupg/gpg.conf' created
gpg: WARNING: options in `/home/test/.gnupg/gpg.conf' are not yet active during
this run
gpg: keyring `/home/test/.gnupg/secring.gpg' created
gpg: keyring `/home/test/.gnupg/pubring.gpg' created
gpg: no keyserver known (use option --keyserver)
gpg: keyserver receive failed: bad URI
The same operation the second time around works. I don't think that printing a
warning really excuses this from being a bug :)