Found the solution:
System->Preferences->Appearance:
Best Shapes is now chosen by default. Change to Subpixel smoothing and
everything seems to be as it was before.
** Changed in: gnome-terminal (Ubuntu)
Status: New => Invalid
** Converted to question:
https://answers.launchpad.net/ubuntu/+source/gnome-terminal/+question/68554
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Monospace font broken after upgrade to Jaunty
https://bugs.launchpad.net/bugs/366417
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