jza,
As I don't have my droid yet (arriving tomorrow!) I did some research regarding this issue. From what I read these are the steps to increasing the overall font sizes...
1.From the home screen, tap the Application slider at the bottom of the screen.
2.Open the Spare Parts app.
3.Scroll down and tap Font size.
4.Choose your font size!
Again, if this is incorrect please feel free to let me know. Hopefully tomorrow I will have the Droid in my hands and can verify these things before posting.
Good luck!