Text is no smaller than other sites
I didn't say it was. Most other sites are equally annoying. However I wouldn't have guessed you'd be the kind of person who measures yourself by other peoples mediocrity. Each letter on screen is about 8mm tall. There is no way you can read that two and a half meters away Altering the text size does nothing on my PC because it's all a fixed size (Except for the menu and footer), certainly the layout doesn't screw up
Hold down CTRL and scroll the wheel. Watch all the content disappear off screen until only a cut in half menu remains. What res do you run at that makes lots of whitespace (or do you mean greyspace around the actual page?)
1920x1200 on my laptop, 1380x720 on the real computer.