Editor performance is a mixture of single-core speed and GPU speed, what is your graphics card? What is cloth in your scene? It doesn't look like much could/should be cloth in the bit we can see except perhaps the bow on the present (unless you are going for a 'soft world' thing, I guess). If the bow is anything to judge by, then if are you applying cloth to a dense mesh like that rather than simpler mesh that uses a SubD to smooth later performance will suffer.
Have you looked at SoftBodies (though the dense mesh thing applies here too) or XParticles cloth?