This is possibly a resource issue similar to the one in this post: http://www.bleepingcomputer.com/forums/t/110384/send-to-button-freezes-computer/
Typically, as laptops get older, Windows gets clogged up with a lot of stuff (called "Windows bloat") and doesn't respond like it used to.
I'd suggest following the steps from the other post to find out what's running that's taking up your resources.
Try opening up Task Manager and then the Processes tab.
Click on View, then on Select Columns
Then check the box that says "IO Reads" and click OK to close the dialog
Resize the Task Manager window so you can see the most of it and can still see an icon to right click on (In your case, it's leaving enough of of a window visible so you can scroll and see the lag with it).
Then right click on something and select "Send To" - look for any unexpected jumps in the CPU, Memory, and IO Reads columns. If something stands out, let us know and we can work on fixing it. If not, then let us know anyway and we can look at other things.
If this is happening in IE7, try running it from the Run dialog by typing "iexplore.exe -extoff" (without the quotes) and see if that helps. If so, then it's an add-on for IE that's causing the issue there.
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