In The Web 2.0 Big Font Controversy, big-fonter (and ExpressionEngine user) Max Kiesler notes that “the current most popular resolution is 1024×768 with 57.38% of users”, so that “if the most popular font size was 12 point in 2000, then the current best size would be at least 14 point if not 1 em or 16 point.”
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i prefer larger fonts. my aging eyes can’t stand small and cluttered sites. lighter sites with 16 point fonts work best for me.