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Mrs Eaves was designed by Zuzana Licko. The font is named for John Baskerville's lover, is a mildly stylized Baskerville revival known for its profusion of colorful ligatures and "petite caps", a unique variation on the theme of small caps. Mrs Eaves is a technical tour de force, formerly being accompanied by a program from LettError intended to help designers manage its unwieldy set of ligatures, and was recently converted by John Butler into an overwhelmingly full-featured OpenType family. Mrs Eaves is beloved by graphic designers but some typographers and type designers question its fitness for use in body text, primarily because of concerns about how the design is spaced.
To gain a better understanding of the solutions and problems that are associated with Mrs Eaves, one should read Licko's rationale for designing the font. There are also several threads on Typophile that discuss the virtues and shortcomings of Mrs Eaves, what to pair with this typeface, and suitable alternatives.