Im not exactly sure how to explain it, lots of bots came in and flooded (allowed for testing), but it was weird because the eggdrop banned them, but very slowly... Like the over the next 30 minutes, you would see the bot add a ban to the list... I mean after the flooding stopped, my mIRC wasnt lagged, but the bot was still lagged or something... Was it lagged and still trying to catch up or is it something in the eggdrop that does this?
Eggdrop tries to keep track of "penalty points", meaning it will take precautions to avoid being disconnected due to Excess flood. Any action that cannot yet be safely sent to the server will be queue'd, and sent as soon as the penalty is low enough.
This behaviour should generally not make your eggdrop react any slower than other bots, since exceeding the penalty count would prevent the irc-server from parsing the command anyway (until the penalty is low enough).
The reason for your client not suffering any "lag", is that it did not attempt to kick/ban all the flooders, and hence didn't build up any penalty points.