Being an amateur typography enthusiast, I am very happy with the direction in which we are headed with Web Fonts. Not only does this provide me with some cool techniques for a personal project, but also a better reading experience throughout the web. And as long as we can avoid the uglier fonts, the fact that better, more diverse, and modern typefaces are available is an all round good thing.
Except that it's not.
Yeah, I don't think it's as optimized as you guys think.
IM Fell English, the font above in blue, is meant to look like that. This poster child is almost a tongue-in-cheek testament of the quality of web fonts today.