This has become common place in my larger application which also uses classes extensively. I'm not sure if it's the actual use of classes, or the proliferation of VIs as you start to get a bunch of read/write accessors, or perhaps the dependency trees that get mapped out between the various classes. Regardless, any simple edit of a VI is followed by 1 second or so of "busy" cursor during which the IDE locks up for recompiling etc. I've been dealing with this so long I hardly notice anymore, editing VIs just has a built in cadence where I make a change, wait, make a change, wait...
Build times for this application used to take about 45 minutes, but now that 2011 SP1 hit it managed to get down to 15 min or so. I have not noticed a large change in the "wait" duration from SP1 though.