em or relative font-sizing seems like a good choice. Also see rem [1] which was introduced with CSS3 to combat issues with font size compounding. Use pt for print stylesheets [2].
For a bit of ancient internet history: http://style.cleverchimp.com/font_size/points/font_wars.GIF
[1] http://snook.ca/archives/html_and_css/font-size-with-rem