No: there have been many bugs over the years on various platforms which cause text not to be displayed or displayed incorrectly (see below). If your goal is to enable ligatures, there's actually standard property font-variant-ligatures
defined in CSS Fonts Level 3 which offers full control:
font-variant-ligatures: common-ligatures;
font-variant-ligatures: common-ligatures discretionary-ligatures historical-ligatures;
See font-variant
for other typographic features which can be enabled such as small caps, alternate letter forms, etc.
History
Before font-variant-ligatures
& the related properties were added, the older font-feature-settings
property allowed the same feature to be enabled. This is a lower-level interface and is no longer recommended except to enable OpenType features which do not have a higher-level interface.
http://blog.fontdeck.com/post/15777165734/opentype-1 has a simple example:
h1 {
-webkit-font-feature-settings: "liga", "dlig";
-moz-font-feature-settings: "liga=1, dlig=1";
-ms-font-feature-settings: "liga", "dlig";
font-feature-settings: "liga", "dlig";
}
http://elliotjaystocks.com/blog/the-fine-flourish-of-the-ligature/ has more discussion as well.
Bug Gallery
The popular HTML5 Boilerplate project removed it two years ago due to various rendering problems:
https://github.com/h5bp/html5-boilerplate/issues/78
Two Chromium bugs which I just fixed this morning caused Chrome 21 on Windows XP to either fail to perform font substitution at all, displaying the missing character symbol rather than using one from a different font, and displaying text incorrectly overlapping other elements:
http://code.google.com/p/chromium/issues/detail?id=114719
http://code.google.com/p/chromium/issues/detail?id=149548
See http://aestheticallyloyal.com/public/optimize-legibility/ for a few other concerns.
http://bocoup.com/weblog/text-rendering/ highlighted compatibility problems on Android and general performance issues
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