Ubuntu 9.04 very slow on Lenovo T61

Im running since 2 days ago Ubuntu 9.04. Most stuff work out of the box, everything is working, but the over performance of the system is super slow. If I try to use compiz, its a bit faster, but I have to use compiz with SKIP_CHECKS=yes, due to my graphics card which is Intel Mobile GM965/GL960. Doesnt matter that compiz is on or off still the windows are drawen quite slowly and poorly.

Im not sure whats the issue, but with Ubuntu 8.04 and 8.10 the speed of the system was super and was also super stable.
Where it is some info on my system:

jinx@laptop:~$ lspci
00:00.0 Host bridge: Intel Corporation Mobile PM965/GM965/GL960 Memory Controller Hub (rev 0c)
00:02.0 VGA compatible controller: Intel Corporation Mobile GM965/GL960 Integrated Graphics Controller (rev 0c)
00:02.1 Display controller: Intel Corporation Mobile GM965/GL960 Integrated Graphics Controller (rev 0c)
00:19.0 Ethernet controller: Intel Corporation 82566MM Gigabit Network Connection (rev 03)
00:1a.0 USB Controller: Intel Corporation 82801H (ICH8 Family) USB UHCI Controller #4 (rev 03)
00:1a.1 USB Controller: Intel Corporation 82801H (ICH8 Family) USB UHCI Controller #5 (rev 03)
00:1a.7 USB Controller: Intel Corporation 82801H (ICH8 Family) USB2 EHCI Controller #2 (rev 03)
00:1b.0 Audio device: Intel Corporation 82801H (ICH8 Family) HD Audio Controller (rev 03)
00:1c.0 PCI bridge: Intel Corporation 82801H (ICH8 Family) PCI Express Port 1 (rev 03)
00:1c.1 PCI bridge: Intel Corporation 82801H (ICH8 Family) PCI Express Port 2 (rev 03)
00:1c.2 PCI bridge: Intel Corporation 82801H (ICH8 Family) PCI Express Port 3 (rev 03)
00:1c.3 PCI bridge: Intel Corporation 82801H (ICH8 Family) PCI Express Port 4 (rev 03)
00:1c.4 PCI bridge: Intel Corporation 82801H (ICH8 Family) PCI Express Port 5 (rev 03)
00:1d.0 USB Controller: Intel Corporation 82801H (ICH8 Family) USB UHCI Controller #1 (rev 03)
00:1d.1 USB Controller: Intel Corporation 82801H (ICH8 Family) USB UHCI Controller #2 (rev 03)
00:1d.2 USB Controller: Intel Corporation 82801H (ICH8 Family) USB UHCI Controller #3 (rev 03)
00:1d.7 USB Controller: Intel Corporation 82801H (ICH8 Family) USB2 EHCI Controller #1 (rev 03)
00:1e.0 PCI bridge: Intel Corporation 82801 Mobile PCI Bridge (rev f3)
00:1f.0 ISA bridge: Intel Corporation 82801HBM (ICH8M-E) LPC Interface Controller (rev 03)
00:1f.1 IDE interface: Intel Corporation 82801HBM/HEM (ICH8M/ICH8M-E) IDE Controller (rev 03)
00:1f.2 SATA controller: Intel Corporation 82801HBM/HEM (ICH8M/ICH8M-E) SATA AHCI Controller (rev 03)
00:1f.3 SMBus: Intel Corporation 82801H (ICH8 Family) SMBus Controller (rev 03)
03:00.0 Network controller: Intel Corporation PRO/Wireless 4965 AG or AGN [Kedron] Network Connection (rev 61)
15:00.0 CardBus bridge: Ricoh Co Ltd RL5c476 II (rev ba)
15:00.1 FireWire (IEEE 1394): Ricoh Co Ltd R5C832 IEEE 1394 Controller (rev 04)
15:00.2 SD Host controller: Ricoh Co Ltd R5C822 SD/SDIO/MMC/MS/MSPro Host Adapter (rev 21)
15:00.3 System peripheral: Ricoh Co Ltd R5C843 MMC Host Controller (rev ff)
15:00.4 System peripheral: Ricoh Co Ltd R5C592 Memory Stick Bus Host Adapter (rev 11)
15:00.5 System peripheral: Ricoh Co Ltd xD-Picture Card Controller (rev 11)

jinx@laptop:~$ free
             total used free shared buffers cached
Mem: 2020136 1140872 879264 0 36156 601100
-/+ buffers/cache: 503616 1516520
Swap: 1951856 0 1951856

inx@laptop:~$ cat /proc/cpuinfo |grep -i name
model name : Intel(R) Core(TM)2 Duo CPU T7300 @ 2.00GHz
model name : Intel(R) Core(TM)2 Duo CPU T7300 @ 2.00GHz

# /etc/fstab: static file system information.
#
# -- This file has been automaticly generated by ntfs-config --
#
# <file system> <mount point> <type> <options> <dump> <pass>

proc /proc proc defaults 0 0
# Entry for /dev/sda6 :
UUID=81e25955-ea64-480e-853a-12b9595ce57e / ext3 noatime,errors=remount-ro 0 1
# Entry for /dev/sda9 :
UUID=caab8a90-cf0d-4383-8879-f60c1a81857e /applications ext3 noatime,nodev 0 2
# Entry for /dev/sda5 :
UUID=605f0f0f-73c4-4274-8048-47784e5a30ba /boot ext3 noatime,nodev 0 2
# Entry for /dev/sda10 :
UUID=fec0cad1-eaab-4ec4-8487-3d66bd5fdb34 /home ext3 noatime,nodev 0 2
# Entry for /dev/sda8 :
UUID=ace1a2e8-e7cc-4bea-8bf5-a8aee1a20890 /usr ext3 noatime,nodev 0 2
# Entry for /dev/sda7 :
UUID=23a63637-9e0a-4dca-aafc-84ff849aeea9 /var ext3 noatime,nodev 0 2
# Entry for /dev/sda1 :
UUID=620ff625-ce39-4509-8bc8-4e22419af070 none swap sw 0 0
/dev/scd0 /media/cdrom0 udf,iso9660 user,noauto,exec,utf8 0 0
tmpfs /tmp tmpfs defaults,mode=1777,size=256M 0 0
varfs /var/tmp tmpfs defaults,mode=1777,size=100M 0 0

Please let me know if you need more info... Thanks!