Although I have experimented with all sorts of "unixy" fvwm setups, I personally still prefer the Win 95 interface over everything else. Somehow, I cannot get used to anything other than a taskbar for managing open windows, click to focus behaviour, being able to click in windows to raise them, and infinite edge resistance. Perhaps this is because I use an 800x600 resolution, and keep many of my windows maximised.
The amazing thing about FVWM is that it can be made to look so different from, well, itself. Check the popular config by taviso -
*dev.gentoo.org/~taviso/screenshot05.png
Satissh, you could try reducing X dpi setting for reducing font size, or you should be able to specify general font settings in firefox preferences dialog, if I recall. Also, fvwm provides an iconbox (as well as taskbar) module.