The project, Eyetrack III, may or may not have implications for your web site.
One quote I thought was very interesting:
Smaller type encourages focused viewing behavior (that is, reading the words), while larger type promotes lighter scanning. In general, our testing found that people spent more time focused on small type than large type. Larger type resulted in more scanning of the page -- fewer words overall were fixated on -- as people looked around for words or phrases that captured their attention
My favorite page in the study was one that compared the styles of five different web sites.