I doubt that it's the phone. I would use Odin and install a fresh image then :
1) install the CWM update
2)install CM7 beta5, then go in to CWM and do a factory reset. You will also want to go to the ADVANCED setting in CWM and wipe the Dalvik cache after every flash too.
3) partition card
4) install one of the Katokernels. I use the non-ext. version with the S2E app from the Market to transfer data to my sd card. It helps with lag issues when done that way. If you would like, I'll be more than happy to walk you through the install with a step by step TUT. Just send me a PM if you want some help setting it up. Give me a little time to reply.
Like LV said, you will also need to find the optimal setting for your cpu. Not all processors can handle the 946 settings. Mine can't. It can only handle being set at 900MHz.