If you're playing with interrupts or have any other timing critical functions on the receiver then lose the Serial Comms. Pipe the async into your USART pin and poll the Receive Register Flag when you have free time. Sitting in a SERIN loop waiting for Data is the equivallent of watching paint dry.
If you need to generate a background Pulse for whatever purpose, you could always get that from your PICs Harware PWM Port (if it has one). If the PIC is refreshing or multiplexing an LED array, then the byte-by-byte Hardware receive method is the best way to go, otherwise there will be a momentary flicker on the display as the data is received.
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