If you've tried creating graphics or content using small typefaces then you've probably run into the problem of readability. Microsoft created a font known as Verdana to solve the issue of small type on screen. Shown below is a comparison of Verdana at difference sizes to Minion Pro at the same sizes. The image was created in Adobe Photoshop CS3 with Strong anti-aliasing applied to the text.
I recently came across a highly detailed article that explains how to get the most readability from your small type. Check it out at The Art of Type.