Wow. Can't believe this still isn't fixed. I had the problem REALLY bad on stock Gingerbread build on my E4GT. I still have about a 2 second delay on CM9. I can live with it, but it's annoying. I'm actually considering trying wake lock app or soft locker just to get rid of it, cuz I'm willing to deal with a slight decrease in battery life to get rid of this pain in the ass. Just not a major decrease.
Now, to the people that don't get why some of us are all bent out of shape about this problem, here is my gripe- when I wake my phone, half the time I don't know if I hit the power button or not, due to the lag. So sometimes, I'll hit it again, thinking I didn't get it the first time. Then I get nothing because I just shut it back off. So I have to hit the power button a third time, but more firmly this time and wait two seconds for it to wake. It's one hell of an irritating 5-6 second process, especially when I'm just looking to see the time or check if I have any notifications (as some roms seem to have a bug that resets half my notifications to silent). It's not the end of the world, but dammit if it isn't frustrating.