The more standard way is to set the text height and arrow size to what you want them to be on paper when Plotted [e.g. text at 1/8", 3/32", whatever], and if not using Annotative Dimensions, set an overall scale for Dimension "features" that is the ratio of reality to the Plotted scale, for example if intended for 1/8"=1'-0" Plotting:
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When using Annotative Dimensions, the text height and arrow size will then adjust themselves to the Annotation scale of each Viewport, so that you can Plot in multiple scales on the same sheet with the same Dimension Style. That requires the on-paper-size setting for text height.
Kent Cooper, AIA