Xmithc
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Are you using an older version of After Effects (5.5 or earlier)? Earlier versions required you to enable Continuous Rasterization for vector layers (such as created by Basic Text or imported EPS files). More recent versions have an integrated type engine that automatically rasterizes as the the size of the type changes. But in addition to that layer switch, you need to have Best Quality enabled as well, to see the highest antialiasing.
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Incidentally, maximum values of 32768 are normal behavior for a 16-bit project (Pro version only). You can change your color depth under Project Settings.