It's unclear whether the PROC FORMAT execution is what you feel is "increasing the run time" or whether using the SAS formats in your DATA step code is where you have concern for run time.
I don't expect you will see significant run time improvements with using the CNTLIN= approach, however that approach will make it much easier to maintain your input/output data values used with these formats.
You can analyze your SAS execution time easily by not executing the PROC FORMAT code, and setting the NOFMTERR option to experiment. Review the SAS log information for DATA and PROC step execution times.
Scott Barry
SBBWorks, Inc.