Word recognition performance varies systematically as a function of where the eyes fixate in the word. Performance is maximal with the eye slightly left of the center of the word and decreases drastically to both sides of this optimal viewing position. While manipulations of lexical factors have only marginal effects on this phenomenon, previous studies have pointed to a relation between the viewing position effect (VPE) and letter legibility: When letter legibility drops, the VPE becomes more exaggerated. To further investigate this phenomenon, we improved letter legibility by magnifying letter size in a way that was proportional to the distance from fixation (e.g., TABLE). Contrary to what would be expected if the VPE were due to limits of acuity, improving the legibility of letters has only a restricted influence on performance. In particular, for long words, a strong VPE remains even when letter legibility is equalized across eccentricities. The failure to neutralize the VPE is interpreted in terms of perceptual learning: Since normally, because of acuity limitations, the only information available in parafoveal vision concerns low-resolution features of letters; even when magnification provides better information, readers are unable to make use of it.