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Great article Mark.
The future of web typography is definitely exciting. As is always the case when designers get more control, the spread between bad and good design will grow; there’ll be a lot of egregious typography, but I think it’ll be a net improvement.
Also, a small note on the code on your blog: the span tag which holds the drop cap at the start of each post shouldn’t have a title attribute. Title attributes are meant to add additional info, and in the case of that span tag, they’re just repeating the content.