IOS 5 - now my iPhone 4 is  S... L... O... W...

I've had an iPhone 4 on the Rogers network in Canada for about 8 months.  Installed iOS 5 two days ago and all seemed to go properly.  Launching any app takes forever now.  Prior to iOS 5 my apps would launch instantly.  Some that required Internet accees (like, Google) might delay for a moment, but nothing that made me unhappy. But now that I have iOS 5, all apps launch  v e r y   s l o w l y...   like 3 secs is the quickest, and 10 secs might be the slowest.  Doesn't seem to be a pattern though.  Once an app is open, it may open from the background quicky, but it may not.  It is very strange.  eg.  I can Launch Mail, and it will open in about 5 seconds (that's not acceptable), then I can close it (it is running in the background), and open it again and it pops open instantly (great!).  But close it and open it a minite later, and it might take 5 seconds, or might pop open instantly. 
Any idea???  Help!
I am thining that if I could wipe the OS and install a clean, new, fresh iOS, then maybe it will be snappy.  Anybody know about this?  I have tried to google how to do such a "clean install", but no luck finding "how to".   Maybe this isn't required....  I'm just guessing because such a clean start works well for Microsoft Windows!  
Input or suggestions welcome,
Thanks,
Randy

Thanks for the quick reply.    I tool the advice and "reset" my iPhone.  However, I now have lost all my data!
Contrary to what the phone told me, I did lose my data.  After I hit reset it wanted to connect to iCloud or iTunes... my only backup was in iTunes.  When the phone connected to iTunes (it told me when to plug in) iTumes automatically made a backup of the phone!!!!!   Then when it went to restore it, ya, you guess it, the only backup available was the one it just made!!!!!  I have a backup of my iPhone when it is in the middle of a reset...  and so a restore puts in back to that state - the middle of a restore.    A quick google to see where the "older" backups are, seems to scare me....  Is it really true that iTubnes keeps only the last backup??????  That can't be true.
Have I lost all the info on my phone??

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