There are three major font formats: PostScript, TrueType, and OpenType.
PostScript fonts are generally used by the design and print world. They are optimized for the print medium, and most printers and service bureaus prefer PostScript fonts. PostScript fonts require ATM on older operating systems.
TrueType fonts are generally easier to install (they are made up of only one file, versus the two or more files that PostScript fonts consist of). Depending on the manufacturer, they may be optimized for on-screen display and work well if you’re designing for the Web or other digital medium. Some Windows applications may only support TrueType fonts.
OpenType fonts are less common than fonts in the other formats because the technology is relatively new. The biggest advantage shared by all OpenType fonts is cross-platform capability. The single font file will work on both Mac and Windows systems. Some OpenType fonts include expanded character sets and special features like automatic ligatures and alternate glyphs. OpenType is the best format for most purposes.
You may find other answers to your font related questions in FontShop's FAQ page
Plus they have this new feature called Type Navigator. An interactive visual font search system... Hope these help...
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