Enable the RPM Fusion repository, http://rpmfusion.org/Configuration
Open a terminal and type
su -c 'yum localinstall --nogpgcheck http://download1.rpmfusion.org/free/fedora/rpmfusion-free-release-stable.noarch.rpm http://download1.rpmfusion.org/nonfree/fedora/rpmfusion-nonfree-release-stable.noarch.rpm'
Install the freetype-freeworld package
su -c 'yum install freetype-freeworld'
Goto System > Preferences > Appearance
Click for a bigger view
Select Subpixel Smoothing (LCDs), also click on the details button and make sure the hinting is on Full.
As you can see in the screenshot, I have changed the default fonts to the Liberation set. I think they look nicer.
For most web sites to look as they were intended, you will need to install the Microsoft True type fonts.
You can either try and compile the Microsoft fonts package from http://corefonts.sourceforge.net/ or download and install the rpm file I compiled earlier.
Open a terminal and type,
This will download the msttcore fonts package to your current directory. Install the msttcore package by typing,
su -c 'rpm -ivh msttcore-fonts-2.0-3.noarch.rpm'
The final part, reboot your system.
Revised on 15/12/2010, comments 1 & 2 affected