Edit: Rebooted, problem gone. Probably artifact from another application.
I just loaded up 1.09r and I'm getting some very serious hickups, ranging from a few seconds to 20 or more, averaging around 10 seconds. The game will completely freeze for the duration.
I've removed all mods, cleared out the documents\my games\elemental\ folder, and verified the installation.
Here is my dxdiag: http://pastebin.com/raw.php?i=ERBHW1nq
