Apparently many Microsoft fonts don't have a glyph for ellipsis (..., which is used in the Calibre interface). Given the poor state of glyph mapping on Windows, nothing maps into its place, leaving black blobs at the ends of lines in Calibre.
I did try Microsoft Sans Serif, and it works fine. However I went digging and Microsoft says that the actual font mapping is to Tahoma, (which is perhaps their best hinted font for small text sizes).
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