From the people of FontShop comes FontStruct, a free online Flash-based tool that makes it fairly easy to create a TrueType font from scratch without all that tedious kerning and bezier-ing.
Before the professional font designers among you pounce, I know that fontography is serious business. The last time I really tried my hand was on my Amiga 1000; the result has mercifully been lost. In the hands of us amateurs, FontStruct is a very cool toy, but I doubt it will put Mr. Bodoni out of business any time soon.
Because this is 2008, FontStruct also includes a social-networky framework for sharing, rating, and Creative-Commons-licensing fonts.
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