Quote: "sqrt((x1-x2) * (y1-y2)"
Don't you mean
sqrt( (x1-x2)^2 + (y1-y2)^2 ) ?
Anyway, it's not really a question of if there is a faster way, it's a question of do I need it ?
for movement between two points, you can often work with X and Y without needing to combine them - if you wanted a bullet to hit an enemy, you could just set the vx and vy of the bullet, based on the ratio of (x1-x2) to (y1-y2).
So if the enemy was +100, -500 distance, a speed of +1,-5 would be going the right way to hit it, without needing the extra maths.