Overall I'm very happy with the Axim X50v. :) You can see that in
my post here.
I always use the true/real VGA mode. This mode (with SE_VGA) increase the start-up and turn off time slightly longer.

OzVGA improves it significantly. Also some of the reference books I use(these were written for previous operating system and non-VGA)runs slightly slower in real VGA mode.
Also I've changed the CPU speed from auto to 624MHz.
The slowness in part also related to the number of programs running. To really close them I use the switcher bar and that speeds up both the start up and turn off time. I still do not know what plug-in really closes a program and yet compatible with the real VGA mode
With all these adjustments I don't see the start up and turn off lag anymore :)