sIFR & Olly
For a long time, typography on the web has been bad. Bad, as in: severely limited. Here's the problem. HTML tells your web browser what text to render, and gives it some guidelines on how to render that text, but your web browser can only render text using fonts on your own computer. Sure, you can plop the name of any font into an HTML tag or a CSS font-family: declaration, and if you have that font installed on your computer, it might just work. HOWEVER, if another user doesn't have FancyPants CurliCue Font™ (or whatever) on their computer, they'll probably see nothing more than good old Times New Roman.
Here's the crux of the problem: you can only expect any given computer to have a pretty paltry handful of fonts (which go under the ugly After School Special-ish name of "Web-Safe Fonts"), and if that computer happens to belong to a Free Software-only Diehard, you can't even count on those. If you have a font that looks nice, or one that's important to your brand, chances are Joe Average-User won't have it installed. If it's just one line of text or so, you can just put it in a graphic, but if you need to render things like article headings, usernames, or store names on the fly, you can't exactly create a image file each time. Moreover, at the risk of stating the obvious, an image is NOT text, so it won't be selectable, and accessibility software for visually-impaired visitors might not be able to read it.