I'm working on a small site to compare web fonts. Check out Fontcomparer.com.
To solve this issue before images has been used instead. But that's not a good solution both because of performance and that the text can't be read by search engines for example. There's been workarounds and services like Cufón. But to me it's with services like Google font directory and Typekit we can use nice and more fonts as easy as it should be.
The Font comparer is really light weighted and did not take to long to develop. No php, no database only HTML/CSS and jQuery.
There was a huge increase in traffic after it was mentioned on Twitter by Smashing magazine. And that inspired me to make some improvements today.
Now I'm looking into adding more fonts and also adding some functionality to customize the fonts more.
Feedback or suggestions are really appreciated!