Smooth as silk on my Acekard with AKaio 1.7.
Lagging problems in this game has more to do with the SD card than the flashcart. This type of game is going to be constantly accessing the SD for textures and data as you walk around. Many SD cards are not designed to do this. They were never designed as solid state drives they were meant for storing and playing back sequential data from a camera or video device. The random access load some newer games are demanding is really starting to show badly on many SD cards.
You will also notice the larger SD cards have a slower random access time. This is because many larger SD cards are built using MLC (multi layer cell tech), the older cards used SLC (single layer cell tech). SLC is a lot faster at random access than MLC. Ideally an MLC card should never be used as an I/O device. MLC cards are good where high throughput of sequential data is required, for example, viewing a movie or for use in a camera. SLC is more expensive to make but has the advantage of much better random access performance, has 10x the lifecycle of MLC and uses a lot less power which should extend battery life. You can buy larger SLC SD cards but they can be hard to find depending on where you live.
Test: If you have an older 1gb or 2gb SD lying around then place a copy of the firmware and game on that and see if there are any improvements.
Edit: I can't wait for Black and White. The web is going to be littered with the same sort of complaint.
Edit2: MODS, could you please move this topic to the correct forum?