GIMP Version: 2.7.5
Operating System: Windows
OS Version: 7
GIMP Experience: Basic Level

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Hello.

I was having some extreme lag on my brushes lately, but only on certain photos. Gimp was using huge amounts of cpu just moving the cursor around, and scrolling/panning around while zoomed in also lagged. Looking at image properties, I noticed the ones I lagged on had color profiles of "sRGB IEC61966-2.1."

My fix to this was to go to edit>preferences>color management and to set "Mode of operation" to "No color management."

My questions are:
1) Is turning Color management off a bad thing? Will I lose noticeable quality?
2) If yes, is there a way to turn on Color Management so I do not lag? How to I make or access any profiles needed?

My computer specs are as follows:
CPU i5-2500k
GPU Radeon HD 5670
RAM 16gb
I just reinstalled Windows yesterday along with all the latest drivers

I convert all my images to sRGB (via the GIMP open) before working on them. sRGB's good enouth for me most of the time. You should get a dialogue pop up window when you open your image; highly recommend that you have GIMP convert to sRGB when it opens up the image. I know the arguments, but you have to remember that GIMP's only an 8-bit editor anyway and there's little benifit with working with a higher gamut color space (and again, most of the time there's just no reason to do so).