Earlier quoted context omitted.
Third-ed. Contrast way too low. Why not use #000000 for the background color? Everything just looks washed out as it stands and almost has the effect of making everything look disabled. How about something closer to this? http://i.imgur.com/qQr0xId.png
You should never use absolute black. It's a common phrase you'll hear your first day of Color Theory class http://ianstormtaylor.com/design-tip-never-use-black/
Form follows function. Barely legible text is very bad design.