Dunno what setup you have but OS4.0 on a 240Mhz PPC is slower than dying from AIDS... 
Correction. On
your 240MHz it is. It works just fine on my 240MHz 603e/256MB, as did MorphOS 1.4.5 when I last tried it. I suggest, therefore, that mileage varies.
Then again, you find that WarpOS apps run slower than PowerUp ones. There was plenty wrong with WarpOS, particularly with the benefit of hindsight (using the poweropen ABI rather than the system v one, for instance), but context switch performance was most assuredly not one of them. Since that tended to dominate the performance of well-written applications on both kernels, I found the reverse to be true there too.
I think there's just something weird going on with your system :lol: