I think this is the easiest way to fix this:
- Print out a single character at 720 point
- Measure it
- Calculate the proportion by which it needs to be resized. Presumably you have been given a target size for 12 point text or 24 point text.
- Use the Transform Wizard in Font Creator to scale the glyphs vertically by the desired amount.
FontCreator only uses “funits” which is similar to pixels in image programs. Measurements in inches, cms, or points wouldn’t mean anything as the scaling depends on the fonts metrics, which can change during the design process.
See my posts in the FAQ Sticky thread for some illustrations and terms used in font design.