The main thing that slows down Firefox is the number of addons installed, or conflicts between similar addons.
I tried FF3 for a while, but most of the addons I need aren't supported yet, so I reinstalled FF2. It was a clean install with no addons or themes, and I noticed an immedaite increase in speed compared to the FF2 speed I've been used to for the past few months. But then as I started to put my old addons back in, it gradually slowed back down to its usual level. Still faster than IE though.
I read somewhere that there's a way of getting some of the speed benefits of FF3 and applying them to FF2. It was either an about
:config edit or a beta nightly build with a hidden setting enabled. If anyone knows what I mean, please reply.