That array line is some debug info I left in on accident, and an upgrade to 7.3.1 will clear it up.
However, that does lead to a bit of a clue. Basically, that line is where it checks to see if someone needs to be emailed. I'm curious if it's possibly a delay in talking to your mailserver. The script has to wait until the mail is sent out.
Do submits that do not send out mail work ok? Like submitting a new calendar event?