Hi,
I have good experience in font rendering as I have done this for DVB TV - PC emulator. It is done for the OSD menus and messages with directdraw on Video with alpha blending.
Handled all kind of font flickering problems by loading the font in memdc and editing them with GDI API and store back as bitmap font for furthur rendering.
This way handled all Ascii, unicode strings, wrapping problems etc.
Used alpha blending techniques to render on the video with text out in memdc with has the video bitmap alreadt blitted.