The iPhone 5 may have a bigger screen, but text still looks pretty small to my aging eyes. In fact, it looks that way on all my iDevices.
Here's the iOS Messages app, with normal text on the left and 20pt Large Text on the right.
(Screenshot by Rick Broida/CNET)
That's because iOS relies on a fixed font size, and while a smattering of apps let you increase that size, there's no "font" option to be found in iOS settings.
Actually, there is (kind of), if you know where to look. It turns out you can enlarge the default iOS font a little bit or quite a bit, depending on your eyesight needs. Here's how:
Tap Settings, General, then scroll down until you see Accessibility. Tap it
Tap Large Text
Choose one of the available sizes — anywhere from 20pt to 56pt.
That's all there is to it. You'll now see larger text in the Contacts, Calendar, Mail, Messages and Notes apps.
Keep in mind that larger text might mess with the formatting in some email messages. You might have to experiment with the different sizes to find one that's best for you and your device.
Personally, I've found that 20pt makes Messages a lot easier on the eyes, even if it does force me to do a bit more scrolling (as the bigger font allows for less text to fit onscreen).
I'm pretty sure iOS has had this feature for a while now, but I must confess, I didn't know it existed until recently. Better late than never.