Personally I wouldn't use wglUseFontBitmaps() if you want any sort of decent quality out of the fonts.

I use AngelCode's Bitmap Font Generator ( http://www.angelcode.com/products/bmfont/ ) and then have some code that takes that texture and draws the text string on screen for me. You then get results like this (an unfinished Dogfight comp entry )
http://users.on.net/~sly/images/bfauto3.jpg