Intellsense is problematic. Very problematic. When it works, it's great, but more often than not it will cause more problems than it costs. It will freeze, it will analyze files while you try to compile the code, and, as a rule, VC 2005 sometimes runs like a dog. As suggested in a previous post, disable intellisense (and choose a potential alternative - I also support VAX).
Presumably, the fix and SP1 provided by MS will fix some problems with intellisense, but not all. We saw minimal help from them where I work. You better disconnect it and rely on something else.
I feel that the slowness comes from the size of the projects. It seems that it might fall in this case.
Mark
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