I created an Imagecache setting that just resizes to 125px wide. First issue is that the preview image is 404.

Then I want to print out an image via

<?php print theme('imagecache', 'imported_image', $node->picture, 'test', 'test',  $attributes);  ?>

'imported_image' being the preset and $node->picture is a correct path. The html prints out ok but the path it's trying load the image from does not exist. In sites/default/files/imagecache there is no folder with the name of the preset. Flushing the preset does nothing. The imagecache folder is writeable by everyone. This is on MAMP.

Anyone know what the issue could be?