Today's fonts have to serve two masters, the screen and the printed page.
For an interesting discussion, see:
http://www.typophile.com/node/14929
An aid to understanding the terms, AND insight into:
The point, the cicero and the pica
The height of a font
The em-quad (square)
The - x - height
Line height (leading)
Character space
Word space
may be found at:
http://css.nu/articles/typograph1-en.html
Units/em - Screen VS Print
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Units/em - Screen VS Print
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