We've been aware of how slow CF is on Windows CE for a while. Here are some benchmarks we have run:

CuWin 3500, CE5, NS Basic/CE 8 NS Basic/CE: 26529 loops/second Microsoft .NET: 133 loops/second

Acer beTouch E101 Windows Mobile 6.5, 528 mhz, NS Basic/CE 8.0 NS Basic/CE: NS Basic/CE: 16669 loops/second Microsoft .NET: 3060 loops/second

CuWin 5500, CE6, NS Basic/CE 8 NS Basic/CE: 14394 loops/second Microsoft .NET: 764 loops/second

i-mate 400mhz, WM5, NS Basic/CE 8.0 NS Basic/CE: 12632 loops/second Microsoft .NET: 1290 loops/second

Running the same test under NS Basic/App Studio, an iPhone 4 scores 282,674, Nexus One is 403,000 and the Motorola Xoom is 718,484. Plainly, Windows CE.NET has a long way to go!