I'm seeing the 4 minute latancy too.... If I send from the 7100 it reachs the recipient in 4 seconds.... replies to my 7100 4 minutes!
Well at least I fixed the first part for you!
 I'm now getting IM's in about 8 seconds.... hmmm
[2nd EDIT] it's back to 4 minutes again.... Seem like a network issue
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