good article about body text size here: http://www.smashingmagazine.com/2011/10/07/16-pixels-body-co...
This seems the most trivially easy thing to A/B test. Does anything less the 16pt cost you revenue?
Simple question, yes/no.
Actual data is so much better than someone's untested opinion which has been shown time and time again to be worthless in real life.