We modified our ChartZoom.CalendarZoom example program to plot 500,000 data points (more than your example) and to use the Dataset1.AutoDataCompressEnable capability.
int nNumPnts = 500000;
.
.
.
Dataset1.AutoDataCompressEnable = true;
We see no delay in drawing at all. Not in the drawing of the line plot, not in the drawing of the zoom rectangle and not in the drawing of the last pop from the zoom stack. See if you can repeat this.
The test above uses the SimpleLinePlot, but we repeated the tests with a TimeGroupDataset and a MultiLinePlot, and could see no difference.
It sounds like you have introduced some other problem, possibly in the way you override the ChartZoom class to add the zoom stack capability.
We have to assume that you are using the .Net software, and not .Net CF. Also that you are using a relatively modern computer, ours is a standard 1.5 GHz Celeron with nothing special.