I wrote:
I have WinXP SP2 with Office 2003 [2]. Each time I start
Excel or Word (and probably others), when I first do
anything font-related, it takes several seconds (sometimes
12 sec or more) to complete. Thereafter, the font actions
are immediate.
What is causing this delay? More importantly, how can I
avoid it?

The problem was due to the fact that the default printer
was a network device. When I set the default printer to
a local device, the problem went away.

I also learned that there is a way to install the network
printer so that there is no delay.

In the Add Printer Wizard, instead of selecting "network
printer", I select "local printer", then use "create port
(local port)" with the path "\\serverName\printerName".

Printing works. And no delay when doing the first
font-related action. The only downside is: it is awkward
to delete and reinstall the same printer later. But that
is probably a rare need, I think.