Garret Smith has posted a number of tutorials exploring different methods of text animation in Adobe After Effects. Before we go any further, however, check out Ian Albinson's SXSW presentation, "A Brief History of Title Design," which is a great compendium of visually striking titles from over the years:
Now that you've got some inspiration, here's one of Ian's tutorials. In this video he demonstrates anchor points and parenting:
He's posted several more tutorials, which you can watch on his vimeo page.
[via ProVideo Coalition]