Are you running 4.3? Previous versions had a bug that would cause the EMMC to fill up and not recycle blocks properly, leading to the device slowing down.
If you're not on 4.3, then I suggest you upgrade and see how it behaves - keep it mind that the device will need a while to reclaim unused EMMC blocks after the upgrade, if that's the problem.
If you're already on 4.3 and still have these glitches, then I'd do as you said and try a factory reset.
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