Reached a small milestone in my bat and ball game (BallBreaker), the fonts are implemented as bitmap fonts, meaning that everything on the rendered on the game screen is original material.
The current font system is based on tiles, so it should be easy to implement animation and cool stuff next, it definately feels like the project is about 1/2 way to releasable.
Switching to Cairo is starting to seem attractive, especially when making bitmapped versions of the fonts.
For the moment I won't switch to Cairo as I'm very curious to see what happens to performance when pygame 1.8 comes out.
Another reason I haven't switched yet is a bit of lazyness - the pycairo msi doesn't install the cairo dll... and of course the learning that goes with the new API :)