BTW, the ink efficiency is better determined using weighted average of distribution of letter frequency in language use over the alphabet and should be trivially determinable by parsing font files.
Sounds like an a valuable mini exploration project suitable for print media.
[EDIT]. Additionally, for display optimizations you need to maximize "Legibility", "Font Size" at various contrast ratios on screen. It would be interesting to be able to quantify an optimal "Font Face" and "Font Size" for various contrast ratios (screen power consumption) for mobile displays.