I was unable to use the 5.0.1 OTA on my 2013, probably because my tablet was rooted. So I did a fresh install of the OS via adb side loading. Everliving is working extremely well at this point after updating all of my apps. Fast response and screen scrolling. Excellent battery life, 16+ hours of hard use per charge.
Mine is just as snappy and fast as before and I didn't do a factory reset. You might want to try clearing the system cache and doing a factory reset. Lollipop has been a great upgrade for me and has stopped (at least for now) the horrible battery drain I had been plagued with ever since the Kit Kat update.