The following has been posted by the Exchange Team over on EHLO: http://msexchangeteam.com/archive/2008/08/01/449426.aspx

Its a great post by Bharat and I have tried it out on one of my production Exchange 2007 servers and it does work – in fact the launch period for the Exchange Management Shell has reduced by around 20% and overall performance of the Shell and the Management Console has indeed improved.

So if you get the time it is definitely worth giving it a go.