I know hwcomposer is still broke but someone posted in the main thread (i9100 one) how to speed this sucker up. I'm doing it now and it's a rocket. Go under settings, developer options, enable them and at the bottom tick these two (and watch the phone fly)...
1.) Force GPU rendering
2.)Disable HW overlays (this one doesn't seem to stick after reboots)
ENJOY!
I take no credit for this someone else did it over in the other thread. The interface screams like this. Maybe it's placebo to me but it runs even smoother IMO. Any other takers it's a benign setting switch let me know.
EDIT:
If the OP wants to have a video showing it in action here ya go I made this a little while ago. This way people know what they're walking into on the S2 with JB.
Video of it in action: