It is a known issue in the original Flash CS4 shipment. Adobe has release the update to fix the issue in their official site.
As Allan stated, FlashDevelop can save your time alot by using its code-completion feature. The time you can save is probably more than if you can write code in the original AS editor with no lag.
In response for numerical25: I'm not sure if these can help, never tried though, but it might worth to try.
Go to property window, edit profile > actionscript settings > uncheck the "Automatically declare stage instances". Basically it tell the compiler to not give your controller instance a name automatically during compile-time. But you need to declare a name manually in your class
or you might want to try using [embed] tag :)