VBox Guest Addon tools need to be installed after you have completed the OS install, otherwise the network, disk I/O, video and mouse pointer will be emulated rather than run native. This makes a huge difference in terms of performance. Under "Devices" there is a menu entry saying "Install Guest Addons" that will mount a virtual CD image under the Guest OS, where you will be able to install the guest tools to optimize your VM performance.
Interesting...next time I use VBox, I'll keep that in mind *smile*. Can't think of any strong reason for doing that at the moment, but you never know. There was a lot more than performance problems, though...you'd have to have seen it to believe it, I couldn't even start to describe what the KDE desktop did *smile*.