Well it looks like the old font rendering system I created a while back was not the best implementation possible.
The previous implementation renders the text to a texture every frame it is displayed. Clearly this can be improved. I have implemented a new text rendering system, where by the text is rendered to a texture, but the texture is then stored in memory for future use, this should proved a slight performance increase.
In the image above the text on the menu is rendered with the old system, whereas the larger text in the center is rendered with the new system. Also whilst I was working on the new system, I found a better way to render the resultant texture. Although it is working well and looks good, it is not yet fully integrated yet.