Formatting is slow in DataGridView than MSFlexgrid

Hi,

We have updated our application from VB 6 to VB.Net. We are using VS 2008. Now we are trying to convert MSFlexgrid used in our application to DataGridView. We are testing speed of both controls and we noticed that DataGridView is very much slow than MSFlexgrid while formatting cells(Changing background and foreground colour, making text bold etc).Its hard to use DataGridView if it is much slow. Why is DataGridView is slow while formatting? Is there any way to speed up?

Thank you