>I don't know what else your application is doing, but might it be possible
>to use a 32KHz PIC and just leave it running all the time?  1200 baud is
>possible on such a device of you're not doing anything else while waiting
>for a character.  If you had an interrupt on the start bit, you may even
>be able to do other processing while waiting for characters but I've never
>done it that way.

Example of the 1200 Bd receiver code (interrupt initiated) can be found in
Microcomputer Journal September/October 1995, pg. 67. The project is a low
power data logger, running about a year from one 9V battery. If you would
satisfy with the code only without further comments, I can send it, but
there is lots of other ideas perhaps useful for your project.