Type can be converted to outlines, which can then be edited as any path. This gives you tremendous control over the appearance of individual characters. (Remember, though, that the outlines cannot be selected and overtyped like regular type.)
Illustrator also offers the capability of copying attributes among type objects, using the Eyedropper and Paint Bucket tools. Although this technique is largely superceded by character styles and paragraph styles, it remains functional in Illustrator CS.