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I just tried running the latest build of DrJava on my aging backup laptop an eMachines M5405 equipped with 768MB of RAM, a Sempron 2800 (1.67 Mhz) CPU, a slow 4200rpm hard drive, and integrated graphics (no graphics card) I can edit the DrJava source (555 files including a 10,000 line file) with very good response, so it sounds like there is something seriously wrong with your OS configuration. Windows is notorious for becoming clogged with added services (as applications are downloaded and installed) and burdened with a fragmented disk. Many
Windows users do a complete re-install of their system annually to combat this problem. Some suggestions:

0. Make sure that you are running Java 5.0 or 6.0 (preferably the latest release of Java 6.0 (beware of the bug concerning it's handling of .exe files; the easiest workaround is to use a jar file version of DrJava, but your registry has to be configured properly, which it should be if you just installed a new Java JDK/SDK).
1. Make sure that your power adapter is plugged in. Most laptops run the CPU in a degraded mode on battery
2. Visit a site like blackviper.com and follow the instructions on how to configure your machine for better performance. See http://www.blackviper.com/WinXP/servicecfg.htm
3. Download the latest version of DrJava from www.cs.rice.edu/~javaplt/drjavarice. This latest build (which I just uploaded) requires Java 5.0 or 6.0.

You might also try defragmenting your disk (which takes several hours on a typical machine) but I doubt this will have much impact on DrJava since DrJava makes no use of the file system (other than virtual memory paging) while you are editing a file.