Not necessarily, XWindows usually defaults to 72 or 75 dpi so the default fonts sizes are set to look good at those dpi's. Assuming 370x230mm is the dimension of your screen X managed to read your monitors specs from its ESSID.
If not then you need to set your dpi manually, this can be labourious and confusing. It may be easier to adjust the font sizes to look good on your monitor, but having to adjust them down to 4 points strongly suggests that X has your screen dimensions wrong.
If you are willing to delve further, than get out the manual for your monitor, and this thread
(scroll down a bit) at the Dropline forums and this article
at HumanReadable may be of help. There will also be threads on this topic here at LinuxQuestions. Good luck!