I think most people would not prefer grey on black fixed width. But it did not bother me that much, personally.

I usually go for green on black in my terminals.

I would like to go with green on black just for hacker street-cred, but how does this work with colors? The normal color set seems to be geared towards black/white or white/black as base colors.

MacOsX and Linux terminals support green on black themes out of the box. (Otherwise, I would adopt the white on black option.)

worked well for me here!

Genuine appreciation :)