Sorry to reopen this thread but I would like to confirm that Drewford said. If yes, it's awesome! I really prefer to use text objects instead sprite-fonts.
I have since moved on and started using a plugin called SpriteFont+ (which handles the jSon string from the spritefont creating software)
But this method works or at least worked at the time I posted.
The only reason I moved away from that method is because I can edit the spritefont in photoshop and give it cool effects.