You have to be very careful not to rely on it though: as you mention lighting and protection conditions or just plain bad monitors can kill the more subtle difference completely. And, more importantly, those with sight deficiencies might miss it even in ideal circumstances.
One thing you should always consider during the requirements phase of a web application is whether your app is likely to be used projected on a conference room wall. Things like contrast and fonts make huge differences in such hostile settings, and available screen real estate is also considerably limited.
When people are already getting short with each other before you even get to the actual reason for the meeting, you know it's going to be a long day.
But corporate wanted our fonts to match their other product. I don't know if it was my imagination or not, but it felt like that act broke a couple people on the team, myself included.