This was just on Ander Webbs' twitter, and I though I'd share it with you guys:
ADW.Launcher 0.7.5 (and hints) | ADW Things
One thing of importance regarding the 'LWP Support/Wallpaper Hack". If you have it enabled, it uses Eclair's built in wallpaper support (basically makes the launcher transparent and lets the system draw the wallpaper). This is necessary if you are using LWP, but actually results in slower drawing if you use a static wallpaper.
LauncherPro handles wallpapers similarly (draws them within the launcher if they are static, makes the launcher transparent if they are live).
So I tried disabling LWP support with ADW...and what happened? The scrolling is damn near instant! So if you're not using LWP, go ahead and uncheck that box and let it fly!