I'm experiencing some serious lag on my Droid. When clicking the Home button to exit an application, my desktop will display, but none of the icons appear for 30+ seconds. I assume it is because my internal storage is low (71.5MB free). I've moved all the applications that give the option to my SD card, and deleted all my sms messages.
I've considered rooting and overclocking, but I'm not sure that'll help.