@Phillip-
I actually gave up on ADW and have been running launcherPro premium since Saturday. Truth is, I couldn't be happier. Redraws are almost non-existent and I was even having them running stock froyo and the stock launcher.
Also, apps that have shortcuts/widgets take a few minuts to appear on home screen after redraw (not long) but they do appear. I haven't noticed any slowdown as a result of apps being on the sd card. In fact, I think the more room I can make on the phone, the faster it becomes.
I havne't changed my signature, but I'm currently running stock froyo with chevy's 1ghz LV kernel. It's running much much better than CM6 or BB was for me.