If I quickly move around the analog stick using the default treshold of 0.1, I usually get up to 3 events per frame, which is perfectly bearable. However, at times, I get way more than 100 per frame, and that's when it starts to hang badly (not a constantly low FPS, but sudden short freezes like every second or so).
I'll be observing this and see if I can find a possible cause. It mostly happened after other XBox controllers (I have 4) disconnected, maybe that's related somehow.