Ok, I tested it, odamizu. The font ramp seems to work fine with mobi on my Paperwhite 3. What doesn't work, and the device tells me this when I first open the book, is that the bold ramp does not work on that format. It gives me the option of using Amazon Ember Bold font for that. Further testing - if I convert the mobi (or epub or lit) format to azw3 using Calibre, then the boldness slider works. So, this was exciting. Alas, it does not work on the one unit I COULD really use the boldness slider on, a Kindle Touch. Sigh. (It's a 3g, which is why I bought it).
I do see the line height differences. I remember noticing that in the past, but since the font is more important, I never followed up. Thanks for pointing that out.
So, it looks like in future I will have 3 formats: Epub, mobi and Azw3 (I have numerous older kindles). Oh, and thanks JSWolf, for pointing out that Kf8 and .azw3 are the same files.

I have been kindof puzzled about that.