Address bar autocomplete extremely slow

Edit: looks like the culprit is "Search suggestions". Unchecking this in the menu priority makes autocomplete work quickly again. I have Google as the selected search engine.

Running Window 7.0.3495.6 (Stable channel) (64-bit)

After the recent update I'm noticing that address bar autocomplete takes ~5-10 seconds to work. Pretty annoying as it might as well not work at all. Tried playing around with settings a bit but not really seeing any improvement.