Never thought of just typing the function straight into the interpreter :-| Anyway this is what it produces.
"C:\\MinGW\\msys\\1.0\\local\\Gambit-C\\bin"
> (print (current-directory) "\n")C:\Program Files\Gambit-C\v4.6.6\bin\
> (string->list (current-directory))(#\C#\:#\\#\P#\r#\o#\g#\r#\a#\m#\space#\F#\i#\l#\e#\s#\\#\G#\a#\m#\b#\i#\t#\-#\C#\\#\v#\4#\.#\6#\.#\6#\\#\b#\i#\n#\\)