8.0.5 Performance Lag

[wackraps]

I just installed the 8.0.5 update on my Mac running OS 10.5.8 and am now experiencing huge performance lags when I drag clips from the browser to an empty clip slot. Basically I will drag and drop a clip from another project into a new session, then I get the spinning color wheel for easily 15 seconds before the clip finally drops in. I was not experiencing this in 8.0.4 but I need some of the fixes introduced in 8.0.5, so downgrading is out of the question. Is anyone else experiencing this or have a recommended fix? Thanks in advance.