I say a BIG FAT NO to this
We lose the flexibility of being able to resize the fonts ourselves in the browser when we change resolutions or are feeling like changing the size or whatever. Fixed size text = bad, it forces something onto people which they may all not like.IE let's you quick-resize by scrolling the mouse wheel whilst holding down CTRL. Of course, Macs with their inferior one button mice are incapable of that, but that's another thing
Why didn't you just change the text size in the browser, Manny? Far easier than complaining about it
EDIT: I don't see much use for the other tag you suggested, although it's nice, I doubt it'd get used often and wouldn't be much different from a normal FONT tag anyway.