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The legibility of a typeface should not be evaluated on its ability to generate a good word shape
The title says legibility, though doesn't that refer to how clear/distinct the glyphs are?
EDIT: This was tweeted recently, didn't realise it was around for a while (thanks to Eye not dating their posts). And was also on here: http://www.microsoft.com/typography/ctfonts/wordrecognition.aspx