If the lag goes away, you will know that the conflict of StyleXP and Windowblinds was causing it. You will probably still have orphan registry entries from StyleXP(if you uninstall it), and that may slow down your system a little too. (Note: A lot of orphan registry entries could cause such a problem too. That happens when installing and uninstalling many programs, over time, without cleaning the registry). So, proper system maintenance is important too(Defragging as well). It might be best to wipe the hard drive and start over with just windowblinds and icon packager, at this point. I would leave off Theme Manager too. (I still use Winstyles 1.5) You can copy the icon packager files from the Alienware Theme. Just, open the theme by copying it and changing the copy extension to zip. You can then extract the windowblinds files, iconpackager files and the wallpaper. And copy the various folders to the proper directories. (I.E.-icon file folder to iconpackager, windowblinds folder to windowblinds,etc..) Then, erase the copy.
I can guarantee that you will not have a problem with windowblinds lagging your system if you wipe the hard drive. I don't know all the program you have on your system that might be causing such a problem. But, on a properly configured system(proper drivers and updates), without system file hacks, windowblinds definitely will not cause such a problem and neither will Theme Manager.
If you want to further optimize your system, I would look for shortcut markers in your font folder. If there are shortcut markers on fonts, I would check those shortcuts and make sure that the referenced fonts still exist on your system. If not, delete the shortcuts. If you see shortcut markers at all, I would delete them, and copy the referenced fonts directly to your fonts folder. To have windows searching all over your hard drive for shortcut fonts will slow down your system too. If the shortcut fonts don't exist, that is even worse. This will cause a system error and will corrupt your fonts folder. Good luck. Lots to consider, I know, I've been there.