I have heard this for a while now, dont use icon fonts! I have not however heard the why not.
Dont use web fonts as they are a hack and svg was made for the web and fonts were not.
Here is the thing, fonts are used on the web quite easily these days. Just include the ttf font that you want to include as an import into your css.
Here is the thing. It converted 185k of css and font to 1109k, is there such a thing as a svg compressor?