Allow to set font-size by setting x-height and cap height
I very often create designs where I should have certain x-height.
Now I have to achieve this using long workaround (I do it very quick now, but now quick enough, and its not actionable):
1. Create copy of typed text with Ctrl+C, Ctrl+F
2. Outlining copy
3. Finding symbol with flat top an bottom (x or X or similar)
4. Choose Direct selection tool
5. Shift+click chosen letter
6. Deleting unwanted symbols from copy
7. Scale outline of chosen letter 1000%
8. Going outline mode (enlarged letter will probably take whole screen)
9. Shift+click at live text behind letter
10. Set desired x/cap-height as height of selected art multiplied ten times
11. Shift+click live text
12. Delete outlined symbol
13. Exit outline mode
Thirteen steps!
While there could be expandable fields in Character palette only where users could type desired height and apply it, because both ratios are written within the font, as far as I informed.
There is WR-captialSize script by Wolfgang Reszel which can help with this, but the feature from the box would be better.

I am glad to remind all who voted for this feature that it is now possible to set a font size as x-height or cap height with Show Font Height Options toggle enabled in Character panel menu.
Some issues still remain, yes, like, wrong size calculation if a font has rounded stems that end below baseline (https://illustrator.uservoice.com/forums/601447-illustrator-desktop-bugs/suggestions/44639661-font-height-options-misbehave-with-rounded-fonts), or inability to focus the dropdown with Tab (https://illustrator.uservoice.com/forums/601447-illustrator-desktop-bugs/suggestions/41836618-font-height-options-tab-order), or calculating font height by measuring glyphs instead of reading the actual value within the font (https://illustrator.uservoice.com/forums/601447-illustrator-desktop-bugs/suggestions/41615035-cap-height-setting-not-using-font-cap-height), but overall this is done, works, and super cool, don’t you think?
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Dave Sherby commented
I too need real sizes in my sign making business. When I want a 6 inch letter I want it to be 6 inches not 4 inches. Other sign making programs can make fonts appear in real sizes. This should be an option. I noticed that the font size in Illustrator is the letter height plus the space underneath the letter to the top of the next letter. Please give us an option for actual letter sizes.
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I guess you have never these pictures:
https://i.stack.imgur.com/ntg5f.png
You seem to not knowing much about things you do. 'Print size'? What kind of ignoramus are you? Fonts are much more complicated than your understanding of it.
But the problem is still there. I have scripts, based on Wolfgang's Reszel scripts, to set x-height and cap-height (and digit size, which is frequently different from a cap-height), based on realtime measurement of height of 'z' and 'Z' outlines (as common 'flat-surfaced' letters), but there would be so much profit if AI could allow to measure and set these, based on values included into font itself. -
Dean Jones commented
This is a huge problem for my workflow. I need real sizes, not "print" sizes. Pick a letter, like the H. Make the measurement based on that. Maybe make it an option as I'm sure there is a reason that it is the way it is now, even if I can't find a use for it.
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Ben Mattheus commented
When you type and than select a text/number on the screen to see the size, the measure box shows for example in "cm" the hight of the text. When you measure the same text/numbers after printing the result is a lot different (smaller) than the measurement on the screen showed. For example a number of 15cm is after printing only 9,4cm.
Correct the size of the fonts in the navigator info box to the real size measurements as the print results.
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Ben Mattheus commented
When you type and than select a text/number on the screen to see the size, the measure box shows for example in "cm" the hight of the text. When you measure the same text/numbers after printing the result is a lot different (smaller) than the measurement on the screen showed. For example a number of 15cm is after printing only 9,4cm.
I use the Illustrator CC 2017.1.0 version, but also the C5 has this problem.Greatings,