Hi Marc,
I think the problem is that the Basic Drawing Title's font sizes are in millimeters, in which case you'd want the font size to be 3.175mm to equal 9pts or 1/8". This is a problem my office has experienced over and over again, where one text tool is in inches, another is in points, and yet another is in millimeters. Caused a lot of swearing before we got that organized. Now each of us has a little card next to our desks that has conversions for common text sizes in inches, points, and millimeters. E.g., 3/16" = 13.5pts = 4.7625mm. Cool? No. Effective? I guess.
good luck
Zolli