I love this idea. While I recognize the artistry & care that goes into designing a truly beautiful usable typeface I think it's a shame that so many great ones are expensive enough not to be usable. And many of the go-to fonts favored by designers still don't render consistently across font sizes on the web & across devices/OSes.
An open-source font editor would not only make typeface design more accessible but hopefully open the door to more web-first font creation.
Only just discovered this and really sad that it is no more! One blog post celebrating their milestone of 100,000 subscribers after so many years development, next blog post announcing that they're sunsetting the project. Very sad.
Mashable for iPhone