It sounds like you are drawing >80 times per second onto the graph. This is always going to be a pretty heavy drain on the system. Since this is faster than you can actually see anyway, I would buffer the data and plot it every N iterations instead of every iteration. For example, you could plot 980 points every 48ms, or 1960 points every 96ms, by buffering the data for 4 or 8 timer ticks and plotting once.
This should be a lot less expensive in terms of CPU usage.
Best Regards,
Chris Matthews
National Instruments