Short summary: close the IntelliTrace events window.
I only recently upgraded to the Ultimate version of Visual Studio 2013 and noticed straight away that it took about a second to step to the next line of code while debugging. This was pretty frustrating and certainly not what I was used to in Visual Studio.
Some quick google searches brought up different suggestions including disabling plugins and closing any debugging windows (e.g. Watch, Locals and Stack). That’s when I noticed the IntelliTrace window, located on the right.
Closing that window returned debugging to the speed I expected.
None of the suggestions I found mentioned closing the IntelliTrace window and I wanted to point that out specifically. If you are new to the Ultimate version like I was you may not realise that it is causing the slow down.
If you do want to look at the trace you can always reopen the window. As long as Visual Studio has IntelliTrace enabled, you can reopen it to view it at any time.