I was running both WatchOS 6, and then WatchOS 7 as soon as it came out for my Series 5, and yes, it was noticeably faster with UI transitions mainly, and that was a huge help. But, Just Press Record still remained laggier than I’d like. And the point of that app is to simply tap the button and you‘re recording, so when you get lag and you can’t tell for a second... or two... or three... if it worked or not, it gets annoying fast. I’m so happy to say that all aspects of the app are instantaneous again on my S6. I’m not a paid shill or anything, it’s just one of the main reasons I got the Apple Watch in the first place. I suppose to be fair I’ll compare it to Dark Sky, which is a hybrid stock/non-stock app at this point? Yes, it loaded faster too. Much faster. Stock Stocks app was also much faster.
And I browse the web on my watch mostly via MiniWiki, and cursory searches for front page news when pulling out my phone just won’t do.
Honestly though I didn’t use it as much as I’d always wanted to since it was so painfully slow. I’ll definitely be using it more now, as Siri now responds like some kind of wonderful mechanical woman with alacrity, and she (and Safari) seems snappier.