1pt is a unit of length. One point is 1/72 of an inch. It should be the same height now that it ever was, even on old monitors.
http://fronteers.nl/congres/2012/sessions/a-pixel-is-not-a-p...
Points are a terrible unit for specifying font sizes for the screen. Use px or proportional units (em, percentages, etc.). Points are for print, not screen.