I started getting some really heavy lag into wave 15 that seemed to fix itself as soon as Lance went down? It's probably not an issue, since I doubt battles typically last that long, though.
Settings: Default settings with late game equips and enemies, fighting against two Ancient Monoliths and two Lost Fallen. Matt, Natalie, and Lance were on the field with their default equipment on.
Was the lag like infinite loop bad, memory leak bad, garbage collection bad, or other Flash content slowing things down bad?