When I read through the threads on the forum it seems as though the majority of people have their devices rooted, so let me start off by stating that my Fascinate is not rooted...
That being said, I have had my Fascinate for about 5 or 6 months, and recently I found the device running slow in regards to processing speeds, and was also having a problem sending and receiving picture messages (MMS).
After some research and input from a VZW tech, I found that clearing the caches of the various downloaded apps (easier than going through the entire app list, although clearing out some of the pre-installed stuff doesn't hurt either), clearing out the text threads and email folders of crap I would never read again and uninstalling apps that I rarely if ever use helped quite a bit, as afterwords the processing speeds were near the norm when I 1st got the phone and the MMS problem was eradicated (still a bit slow loading the app list through the 'Shortcuts' option after a long-touch, however I guess that's to be expected as the more apps on the list the longer it will take to load them).
In comparison to say, the Moto 'X', the Fascinate has a relatively small RAM, and it appears to me that as you load it up with apps, their caches grow and you also have the text and email folders filling up with crap, the device just slows down like any other computer.
That's one of the things I really am looking forward to IF the Fascinate ever gets the 2.2, that being the ability to move some apps to the SD Card, which I assume will help with processing? TBV