Strange think with DROP DATABASE

I dont know if I do something wrong or it is normal for PG :)
So

template1=# select version();                              version
---------------------------------------------------------------------PostgreSQL 7.0.3 on i486-pc-linux-gnu, compiled by
gccegcs-2.91.66
 
(1 row)

And now:
template1=# drop database test;
DROP DATABASE
template1=# create database test;
CREATE DATABASE
template1=# \c test
You are now connected to database test.
test=# \d         List of relations    Name      |   Type   |  Owner
---------------+----------+----------test1         | table    | postgrestest1_seq     | sequence | postgres
...
and so on and so on
...
(21 rows)
test=#

It is normal that after drop and recreate I get old structure of database
?

regards 
Robert