The problem is firebug. Turn it off by right clicking the shortcut button in the status bar and clicking suspend. It will turn back on regularly.
This is actually quite a serious problem with firebug. There is no meta tag that I'm aware of to turn it off, and as it doesn't detect subdirectories, you can't automagically tell it to turn off when accessing the CMS.
The bit that slows it down the most is the net monitoring. However, others also slow it down substantially. You can disable this by opening firebug, clicking the net tab, and clicking the little down button that appears on that tab.
I actually came to this forum to suggest some sort of bug fix, but I can't see how it would be done. One trick would be to map the admin directory to a subdomain, which would allow you to turn it off in firebug. Another trick would be to notify the user using JS (see http://groups.google.com/group/firebug/browse_thread/thread/7ca276009609f63e ), but I don't see how notifying the user would be useful. There is also a method for turning some of it off, but it doesn't turn of all of firebug (just the console bit? - see http://davidwalsh.name/how-to-sniff-firebug-disable ).
Code for notifying users in JS
<script type="text/javascript">
if(typeof(window.console) != "undefined") /* Firebug console is defined - so firebug is active. */
{alert("Firebug is active. This may affect CMS performance. Please right click the firebug logo in the status bar and click suspend. For more information visit our wiki.")}
</script>
Code for turning off Firebug
if (! ('console' in window) || !('firebug' in console)) {
var names = ['log', 'debug', 'info', 'warn', 'error', 'assert', 'dir', 'dirxml', 'group', 'groupEnd', 'time', 'timeEnd', 'count', 'trace', 'profile', 'profileEnd'];
window.console = {};
for (var i = 0; i < names.length; ++i) window.console[names] = function() {};
}
}