I do note that it is a bit - just a bit - easier when it is larger. Both Chrome and Firefox use the Zoom key
Ctrl +to make text larger. And the CAPTCHA form zooms, the same way.
A quick 1 - 2 - 3 hits of Ctrl + makes the CAPTCHA larger, and I find maybe 25% easier to read. It still sucks - but Zoom makes it suck slightly less. Whether it truly stops scripted hacking - even with the new form - remains to be seen, though.