Really surprises me you say phone is faster considering on gb your only using one core of the cpu on ics your using both.
I probably know less than anyone on these forums, but here's my humble theory anyhow:
I never rooted/did any mods with my Bionic - however, since getting it last September, I imagine I'd accumulated a bunch of garbage into my internal memory - downloading music via MP3 Music Downloader app, etc... performance has decreased substantially over time. Same thing happened with my previous phone, the OG Droid - you should've seen how slow it was at the end.
(edit: one thing worthy of note here is that while previously on GB .905, it was underperforming but still doing its job while the .232 leak install just made it completely unusable where almost every app kept crashing and i couldn't read my emails)
I probably should've wiped the internal memory clean before attempting the ICS .232 install. I didn't then, but I did when I downgraded to .902 thanks to the advice of members who posted on this thread. So, now it's pretty much back to how it was when I first got it - smooth performance, no lag, and 4G isn't dropping.
I imagine if I were to go back now and try the ICS .232 again (after .905 OTA, of course), I wouldn't have any issues. But if it's coming OTA, I'd just have to revert to .905 again, so I dunno. The phone is running fine and dandy now