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Short answer: "No." Long answer: There are four factors involved in deciding the leading (nowadays meaning the distance from one baseline to the next, also called line height): the x-height of the characters, the measure (length of the line), the weight of the strokes of the characters themselves and the size of the type. In this answer, for simplicity, ...

Robert Bringhurst's Elements of Typographic Style is a through and wonderful reference for things like this. It's long but very valuable. http://www.amazon.com/Elements-Typographic-Style-Robert-Bringhurst/dp/0881792063/ref=sr_1_1?ie=UTF8&qid=1294176315&sr=8-1 A lot of designers recommend a standard grid of lines so that a line+padding will always ...

The very short answer is "No." Oldstyle figures ("lowercase") are specifically drawn that way. Legacy Postscript and TrueType fonts, for the most part, contain only tabular figures, which are lining or oldstyle according to the way the font is designed. The Unicode Consortium isn't suggesting that lining figures can be distorted into oldstyle figures, ...

1.2 ems is standard accepted for best readability. Often it gets to be a bit bigger on websites. http://kingdesk.com/articles/optimal-line-height/ longer lines of text can benefit from more spacing as well (easier to find the next line as you're reading)