Bevels on fonts should be used sparingly but if you use them just right, you can add some life to your site fonts. I found this great article on SmashingMagazine that tells you all about them and how to add them using CSS3. They should not be used all over your site as they mess up readability and thy can be processor intensive. There is also a flashing effect to be conscious off that Paul Irish addresses here.
In addition, the Adobe Fireworks copy and paste CSS3 code is definitely worth checking out.