case=724 is still in our list of bugs to fix. It has not been forgotten or ignored, it is simply that we have a lot of bug reports, and it is sometimes hard to know which ones to look at next.
If you are working in VS2008 you might find this work around useful. One of our users reported mapping the record macro command to this macro:
' Wrapper to record a temporary macro. Disables VAX prior to recording as it
' seems to slow down recording substantially.
Sub RecordMacro()
DTE.ExecuteCommand("VAssistX.EnableDisable")
DTE.ExecuteCommand("Tools.RecordTemporaryMacro")
End Sub