That font is going to be REALLY small to read. Pandora has some insane dpi on a tiny tiny screen, only 3.6 inches across. Our eyes are going to fall out.
There was a discussion about this in the dev forums... let me go find it.
http://www.gp32x.de/board/index.php?showtopic=45781
I went with a 9x15px bold font as the "smallest readable" for my Pandora game.
EDIT: A simulation of what this would look like on a pandora assuming you're looking at this image right now using a 72dpi monitor.
Put your hands closer to your monitor as if you were holding a Pandora if you don't believe it's actually this small.
The font on the Pandora would be clearer, but not larger. Your font looks about 7px or smaller across. Try for 10px or more... somewhere halfway between your existing font and the font at the bottom of the page (UAE4Pandora)
It's almost impossible to accurately set your monitor to 72 dpi. You're better off printing the original 800x480 pixel image with the document size set to 93,6x56,2 mm (~217pixels/inch). It is readable, in a painful kind of way