Text problem - advice needed

Hello guys,
Need your advice . I need to have text drawn on a screen using openGL and it needs to be moviable, and possibly rotatible. I hopefully (not sure yet) will be recieving a string of numbers that will be coming from someone else (using CORBA) . The will have to be repositioned on the screen on a regular basis, but will always have to be readable (obviously ). Also there will be an undefined number of these little strings that will be popping up and moving at random(well kinda)
Bitmap fonts seem the way to go, but I have never done them and don’t know what limitations/features bitmap fonts will give me. If anyone knows of how I can do this, please let me know. Also what kind of preformance (speed) do you get rendering fonts over and over again. (they will be updated once every second).

Any advice would help me out

There are very good tutors on bitmap or outlined fonts at nehe.gamedev.net

Try them