There were some problems with dirty propagation within the dependency graph that made hair with curve output particularly slow. As well the constraint creation script had a method of getting the hair indices from the selected vertices that was VERY slow for a large hair system. (among other problems it indirectly called listHistory per cv which ended up walking the entire set of follicles and curves for each cv) These performance issues have been fixed in Maya2014.
If you need to use an older version I don’t know of any workarounds for the constraint creation slowness issue when using selected cvs. (it is hundreds of times faster in 2014) If it was a critical problem you could perhaps copy the file createNConstaint.mel from a 2014 build and put it in your local scripts area. I think it would still work in 2013… but it might need some minor modifications.
However the slowness with curves you can workaround somewhat by using pfx output for previewing and hiding the curves and follicles. (although 2014 will still be faster)