If TRAMP is too slow, just mount the remote filesystem locally using FUSE somehow. Use SSH to run processes on the remote system like compile and run the program. No need to run the text editor on the remote system.
You can also do it the other way around: have your remote system load your local data. I developed a small bare metal OS this way. Ran the cross compiler locally, had the output go to some NFS mount which was also available via TFTP. Booted the target system with PXE.
Running a text editor on a remote system is good for one off things and maybe as a last resort, but that's it.