Pleasures of Design
How type is measured
This principle still applied. For example a 10 point type is one that measures 10 points from baseline to baseline when set solid (ie without any extra space being added between the lines). So it is possible for one 10 point type to look smaller than another but they will both take up the same depth from line to line.
Most typefaces that look big on the body have a large x-heigt and short ascenders and descenders.