Since setting up my development environments on Mac OS X Lion (brand new macbook air purchased in January 2012), I have noticed that resolving to a virtual host is very slow
I had the same problem and found it to be caused by enabling IPv6 on my LAN, but not having IPv6 configured correctly between my network and my ISP. Apparently the IPv6 DNS-server takes precedence over IPv4 DNS when the client is given both. It took a couple of seconds (on every attempt) for the client to find that the IPv6 DNS was unreachable or missing, and then falling back to IPv4 DNS.