[slime-devel] Emacs 23 and slow compilation output

I just installed Emacs 23.1 (Mac OS, if that matters), and I noticed that the *SLIME Compilation* buffer's fontification became horribly slow. Whenever I run slime-compile-defun, for example, I get this:

Fontifying *SLIME Compilation*... (regexps...............................................)

Whereas the compilation itself takes "0.00 secs" according to the messages, this fontification takes probably 3-5 seconds. This never happened under Emacs 22.3.

I tried disabling everything in my .emacs.d/init.el file, and I also tried turning off everything in slime-setup except the REPL:

(slime-setup '(slime-repl))

No dice, it's all still slow. SLIME is latest from CVS. Is there anything I can do to fix this?