Looks like it's set to align tothe baseline grid...
Thanks gentlemen, that was the problem, solved by clearing overrides... though I'm at a loss as to how it got set that way in the first place. Thanks again.
though I'm at a loss as to how it got set
As Peter said, it looks like you have the text aligned to the baseline grid. This is in the paragraph panel or the Paragraph mode of the Control panel. I also sugest you avoid Auto leading. Better and more predictable to use an absolute value.