If only we could finally do away with split standards and make IE tow the line or become the next Beta-max.
I've used Google's webfonts. Other than old browser issues coupled with the aforementioned 800 pound Gorilla, they work alright.
I also use a cool module for Drupal projects called Signwriter. Not web-ready fonts, image types-- but you have total control over color, drop shadow and stroke with no browser compatibility issues. I use it for headers and some menus. Add your truetype font directly to your server and it'll use it dynamically use whichever one you select when you add content. Saves a lot of time coding and tweaking CSS or building graphics from scratch.
We've tested Typekit and Google webfonts on IE7 and IE8 - they both work well.
They don't work on IE6, but we dropped IE6 from our supported browser matrix earlier this year. Its dropped below 5% usage, and those 5% aren't the type of people who buy things on the web anyway, so it just doesn't make sense to support in a cost benefit analysis for most apps.
Signwriter and other image generating systems are great from a design and compatibility perspective but they aren't so great for SEO.
One day search engine algorithms will become self aware and recognize our desire and intention to push design and development standards to new levels and give rating based on how cool things look and work--like being able to "see and evaluate" images or the functionality of web apps. Until then, we have to make do with the limits to what contributes to a good SEO rating and be encouraged by the promise of HTML5, embedded web-ready fonts, Flash, Silverlight and Internet technologies yet to be seen. I digress... go for it Gabe.