Well writing the text the way you do is using the normal Canvas (GDI) which is pretty slow in comparisson to DirectX/DelphiX, what you could use instead is bitmap fonts, which basically means that each letter is a bitmap.

When you want to draw text you simple traverse through the string and draw the corresponding bitmap at the correct position! It's faster than the canvas method and gives you a greater variaty of fonts!


P.S. For a 2D game 60 FPS is pretty good and some books even advise you to limit your frames at 60 FPS in 2D games.