UPDATE: I figured the problem was due to messed up compiz settings. Disabling and enabling compiz (Right Click on Desktop>Change Desktop Background>Visual Effects None and then again to Normal or Extra) fixed it.
The older post follows.
Fixing Slow, Choppy and Laggy Maverick Meerkat (Ubuntu 10.10)
A lot of Ubuntu 10.10 users have been complaining about Maverick being too slow, typing becoming laggy and video performance being choppy. Here are few things you can try to make it fast again. These have been collected from the user experience discussed in this post in Ubuntu forums.
