As of more recent versions, I have noticed a slight change in behavior when switching in and out of fullscreen mode (eg, via F11). I can go fullscreen instantly without delay. When I try to return to regular windowed-mode, mIRC stalls while it thinks about this matter.
I usually have hundreds of channels open, as single window maximized MDI view. I have for many many years. I don't recall it having doubts about switching back out of fullscreen before.