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Well, the speed is back. Beta 1 is performing as fast as SP17 did and I have a guess as to why. When updating browsers it's not uncommon for the update protocol to dump the cache of the earlier version. When you use the new version the cache has to be reestablished and until it is it'll seem as if the browser is slower. Once the cache is reestablished previously visited pages will load significantly faster.

I'm not privy to the inner workings of OmniWeb so I won't say this is what happened to me, but it's a possibility.

By the way, I have a fairly slow iMac G4 powered with a 800mhz chip and 512RAM. I've got my fingers crossed that Santa will come through for me this year with a new iMac.