In beamerposter, 2008/03/11. v.1.07. (the version in Tex Live 2011), itemize bullets are misaligned:
\documentclass[final]{beamer}
\usepackage[english]{babel}
\usepackage[orientation=portrait,size=a4,scale=1.0,debug]{beamerposter} % e.g. custom size poster
\begin{document}
\begin{frame}{}
\begin{block}{\Large{Summary}}
\begin{itemize}
\item Item 1
\item Item 2
\item Item 3
\end{itemize}
\end{block}
\end{frame}
\end{document}

- How can I fix the vertical alignment?

\Largeis not a command receiving arguments:\begin{block}{{\Large Summary}}would be the "correct" way, but since the title is probably typeset in a box of its own,\begin{block}{\Large Summary}should suffice. – egreg Jun 12 '12 at 10:01:)– egreg Jun 12 '12 at 12:49