You do not 'cancel' your registration to mIRC, you register it with a one off payment, if you choose not to use it after that, thats your choice, however..
You will find that mIRC is one of the best, if not the best IRC client out there, and as i mentioned this is caused by the number of users, and the amount of data sent to/from you from the server that is slowing you down.
The same principal happens when someones 'floods' you or a channel, it is not a lack of ability in mIRC but just the general amount of data involved.
But good luck finding a decent client.
Eamonn.