I'm gonna go against the majority and say NO. Reasoning: fluid sites like Wikipedia are a nightmare to read on large screens due to their long line length (though its citations make it hard to read at the best of times).
The problem really occurs because there is no mechanism to size text relative to the screen resolution. If you could automatically make text bigger on bigger resolutions, you could stay closer to the 80-odd characters per line that's generally regarded as the best for readability.
There is also the problem of images and other fixed-size elements. You can have large images and let the browser shrink them if necessary, but then you run into other problems like much longer download times, and image quality problems in many browsers.