On our self-hosted instance it flies.
Using all of gitlab.com, our self-hosted instance, and github.com with some kind of regularity, I find both GH.com and GL.com equally fast (or "slow" depending on your PoV) since a year or so, and our local instance faster. Neither is rocket fast, but neither is "terribly slow" either, and at any rate they're largely in the same ballpark.
All I want is a Github alternative: something which allows people to clone (be it http(s) or git smart something), do pull requests, have an issue tracker, view files online and show pretty markdown documents. I'm half inclined to go the usual route and write it myself, but I should first google around. Someone mentioned Gitea to me: that project claims to be lightweight so it might already fit the bill.