This is much nicer now!
The text is more readable (the video info screen makes this quite obvious). Upper case umlauts (ÄÖÜ) work on the chat now, and what people are saying no longer overlaps their player names. Pressing shift/alt/altgr etc. on the chat no longer produces any output by itself (it still does on the keyboard config menu, though).
However (sorry ;-) ) :
For me, with the new font system, model movement still seems to stutter a little. Movements are not as 'fluid' as they wre with 3.5.2 (I'm not sure it's the fonts system but it may be). If I look at the 'About' menu and watch the battle mages' legs and feet the the frames seem to blend more fittingly on 3.5.2 than on my SVN head build, and that's even though with the newest builds FPS is slightly higher than with 3.5.2. I assume this is because the new font system somehow make some frames take longer and others shorter.
During text input in chats, Ctrl-J (newline) and Ctrl-Shift-9 (TAB) allow for input of characters which should probably be forbidden.
With the Ubuntu font I have set, many non-standard characters display as boxes. Would it be possible to not echo out any characters the currently selected font does not support? (This is really a minor issue though).
About the issue MuWuM describes on the 'j' character not being displayed - I cannot reproduce this, nor did it seem to happen for titi when he was taking the screenshot of the options menu he posted above. Maybe this is an issue with this specific font? Which font are you using MuWuM?