Surely, you must profile your application before any optimizations, but truth to be told, D3DXFont
/D3DXSprites
and "fast" is mutually exclusive concepts. If they do not fit, just don't use them.
Use 3rd party libraries or make your own sprite/font renderer.
Recently I've answered about how to do it here: How to draw line and font without D3DX9 in DirectX 9? Also, Google for "sprite font", "sprite batching", "texture atlases", "TTF rendering". It is not very difficult if you are familiar with API (notably vertex buffers and texturing), and there are plenty of examples on web. Don't hesitate to look for D3D11 or OpenGL examples, principles are the same.