Just in case that wasn't clear enough, it's not the size of your script that matter's, but how you use it. Seriously though, the actual coding is what slows mirc down, not the size of the script. So if you want to improve the performance of the script you will need to evaluate it and make it more efficient.
Then again, if you are on a 1Ghz processor with 128Mb of RAM that could be the issue as well.