It used to be that Direct2D was a poor choice for Windows Phone (if you care about that system) because it wasn't supported, but Win Phone 8.1 has it now, so less of an issue.
My experience with D2D was that it offered fast, high quality 2D rendering, and I would say it is a good choice.
You might want to take a look at this article on Code Project. That looks appropriate for your purposes.
If you are certain you only need MS system support, then you're all set.
Another way to go would be a cross platform system like nanovg, which offers nice 2D rendering and would work on a Mac. Of course, you'd need to figure out how to do the video part on non windows systems.
Regarding D3D, you could certainly do it that way, but my guess would be it would make some things trickier to do. Don't forget you can combine the two as well...