Zelda MM - major slowdown with Lens of Truth (Jabo D3D6 1.50 video)

Whenever I try using the Lens of Truth in Zelda: Majora's Mask, it slows down from 60fps to around 12-13fps. The Lens of Truth does not cause a slowdown on OOT.

If I switch to Jabo Direct3D7 1.40 it does not slow down but has numerous graphical glitches instead.

Is there a newer video plugin I should be using (or some special settings for this one) that might resolve this lag?

System specs:
Pentium III 933MHz
512MB RAM
Windows 2000 SP3
64MB Geforce3 Ti 200

For anyone else who has encountered this problem and does not know how to resolve it, the easiest way to get rid of the Lens of Truth lag is to disable (uncheck) 'Self Rendered Textures' in the graphics plugin's 'Rom Settings'. The fix is effective immediately.

The only drawback to this 'fix' is that the subscreen background goes white and the Pictograph Box (i.e. camera) no longer works (it gets a plain brown-coloured rectangle instead of an actual picture), so you'll need to turn self-rendered textures back on whenever you need to take a picture in the game.