"Actual Size" should work with multiple monitors.
The new "Actual size" option on the view menu only works with the primary monitor. This should really work with multiple monitors as many AI users have more than one monitor. Please consider extending this feature. If you decide not to, then please display a warning to users stating that it's not actual size unless using the primary monitor as the drawing monitor.
I cannot get the appropriate size and font settings as Illustrator shows me art and artboard as much larger than it should be at 100%
Bart Castle commented
Seems crazy that we have to request this as it used to work fine until some of the very latest releases. Alas - I will vote and wait.