Do you really need to update the drawing process every loop? Just draw the lines to an off-screen bitmap once, get the image and paste that to the screen. When you draw new lines, all you do is draw them to the bitmap and update the image. Removing lines is a little more complex, you'd have to draw all of the lines again.
If you're really looking for a way to speed things up even more, you can use multiple off-screen bitmaps, and then layer the resulting images over each other so it looks like you have one complete image. This way you'll never have to draw all of the lines at once.
TheComet