I'm not criticising the actual file format. What I'm saying is that .png is not the be all and end all with the internet - there are many situations where .gif does a better job - so saying "Please join the rest of the world by using PNG's if you want transparency" is a false generalisation. Now I read through all the posts, I don't even know where you pulled transparency from, its got nothing to do pixelising the edges of a font. The example I provided is .gif, and the edges are fine.
If I was in love with a font, I wouldn't let pixelation stop me from using it. If I ended up with this problem in GIMP, I'd turn around and make the font in either Flash or Inkscape (depending on if I'm using the Winblows machine or the Linux machine), make the huge-ass font what I want, then convert back to raster. Innovati kinda said this, except he said all fonts are vectors. Obviously not in a raster programme they're not. Photoshop makes everything in pixels-- fonts too. But he's right, fonts and things like logos arte better made in a vector programme like Inkscape or Illustrator (I've never used Illustrator), then change it back to something all browsers can see (a gif). As for PNG's I avoid them unless I'm using semi-transparency for non-IE browsers (when I'm using CSS signatures to give IE a stupid version of the site and everyone else the pretty one). I do always test saving my images as png and gif, but I must be doing something wrong because I don't usually get the better compression advantage of PNGs, and end up with a gif that looks the same but half the filesize.
OH - A trick I use to fight pixelation on some images might work for you here... double or even triple the size at which you are creating your image, then scale it down using a 'smart size' or 'bicubic' resample. The 'blur' added by the resizing can act as a degree of anti-aliasing for you. I like Paint Shop Pro's 'smart size' for this because it will often 'hammer' solids into pixel boundaries too. (though even it will still result in a few messed up pixels here and there)