I ran some of my own tests locally and it appears this page is actually broken. It's a paged view that is supposed to chunk the entries into groups of 25 (or whatever you select otherwise). However, it appears that it is show all of my test entries on one page and it does appear to be slowing it down greatly. I have added this to our bugs list.
Matt Petty
Senior Software Developer
SmarterTools Inc.
www.smartertools.com