I noticed today and yesterday that running my site on local host is very slow. I highly doubt this is a code issue as when I put it up on my live site it went fast.
This is a stab in the dark as a developer I know had similar problem.
We edited the global.asax file in our project and it seemed to clear out some corrupted assemblies. I suggest you try clear out the GAC of compiled dlls for your app (you'll have to google for location)