For the fonts: on 5Dc we have used a trick to downscale the bitmap coordinates on the fly (its resolution is 720x240). On 1100D, the screen resolution is 360x240 if I remember well, but the buffer size is 720x480, and the firmware does some sort of interpolation (is it nearest neighbor or something else?).
The medium font has a width of 12 pixels, and the bottom help text in ML assumes this width (max 60 chars). Probably a very tiny font rendered at width=6px and with pixels doubled could work a bit better than current medium font.
If not, can we consider a larger font (maybe the current small font with doubled pixels, that is, width=16px), and use horizontal scrolling of help text, like in rockbox?