It was fine until last week and now it takes over 2 minutes to launch an application like Word 2007 or Adobe Reader. I am not sure what has changed since then (ofcourse, no hardware changes been made). Last thing I remember (untils slowbug hit the computer) is about 15+ MSOffice 2007 related security updates that were installed. Some times even the bootup is slow too. I disconnected internet connection to eliminate auto-download/updates that are not apperant to me.
[Updated on Oct 21, 2010]
My issue was resolved few weeks later when new updates became available. Very likely one of those updates had fix for slow performance.