Hey Frank!
First of all, is a font that looks like that on your system? My first guess is that the font we're trying to get on your system wasn't found and what you see is the substitute the system picked. (The font that's generally used on Windows is regular Arial, as your default was.) The usual font might be getting overlooked if it were damaged, deleted, or if you're on Vista and something changed the permissions.
So are you able to use Arial in other programs?
The next thing I'd try is not just the text thing in the FAQ, but a slight variation on it:
1) Create->Text->Option Box, and change the font as before.
2) In the options box make sure the following options are selected:
- Type should be Poly
- Quads, not triangles.
- Tesseletion method: General.
- Under initial tesselation controls, make sure that both combo boxes are set to "Per surf # of iso params in 3D"
3) When you create the text, instead of whatever the standard string is type something a lot longer.
If I had to have a second guess I'd say that Maya is interpreting the curves from the fonts as not as subdivided as they should be, or is simplifying the curves before filling them with polygons.

If you're still having issues, please echo all commands and email a copy of your script log along with all your pertinent system info (Maya version, OS version) to
support@funhouseinteractive.biz. I'll try to see what I can see from my end.