Erm, well, I think the title of the thread basically asked the question xP.
Instead of truncating the post title, which looks ugly, I'd like to wrap titles with more than x characters to have a special CSS class, let's call it "long-post-title". Then, I'd just open up my stylesheet and define it as
.long-post-title {font-size: small; }
It doesn't have to be fancy - I don't know how to write PHP, but I sure can edit it :P