Two options: Use code to generate the object graph, or use XAML.
Code generated:
1) The compiler converts your code to IL
2) Your IL is interpreted at runtime by the CLR
3) Your object graph is created as your code executes
XAML generated (essentially a mix of code and XAML that makes up your UserControl):
1) The compiler converts the code part to IL and the XAML to BAML
2) Your IL is interpreted at runtime
3) Your class is constructed from the BAML file at runtime
4) Unicorns and magic merge the two
The second version is actually a little slower at runtime (or so I've heard). Of course, this is a big simplification of the process, but you can see that the second version is a little more involved and has more unicorn content. But the fact is that they are, from a UI perspective, pretty much equivalent.
I think your slugishness might be caused by something else. Perhaps you're actually seeing the JIT lag from first execution, or other factors in your code may be causing the process to take longer.
Regardless I'd suggest you create your WPF forms the WPF way. Use binding, and if you need to dynamically create your UI look into ItemsControls and DataTemplates. Its much easier than you'd think.