When a Windows Forms application performs poorly, you can refer to the following article about some practical tips to improve the performance.
http://msdn.microsoft.com/en-us/magazine/cc163630.aspx
§ Improving application startup time
§ Tuning up control creation and population
§ Improving painting performance
§ Rendering text and images
§ Efficient resource management
Commonly you can use the worker thread to execute the time-consuming tasks in background (BackgroundWorker Class), and release the managed object in time to use the least possible memory and resources so there is as much as possible left over for other processes.
Related thread:
http://social.msdn.microsoft.com/Forums/en-US/vblanguage/thread/abbc2b6b-7161-4c91-a028-aaddf82b180c/
For more FAQ about Visual Basic .NET General, please see Visual Basic .NET General FAQ
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