SONAR will favor the audio driver when resources become scarce, at the expense of other threads such as video updates. This manifests itself as sluggish graphics, and sometimes sluggish response to mouse movements, mouse clicks and keypresses during playback.
When this happens to me, it's usually after the computer has not been rebooted for a couple weeks, and a reboot nearly always gets things back to normal. If it's consistently like that, though, you'll have to do some Windows troubleshooting to find out what's eating system resources.