Even if it’s a plugin it’s quite strange. I would assume that in the worst case the offline render would be just as fast as the realtime playback.
When I have some spare time, I’ll experiment to find out which plugin causes this behaviour.
During realtime playback I get around 50% cpu load (ie about 2 cores), which is fine.
edit: do you pass any special flags to the plugins when doing an offline bounce? If you do not, then it probably is not a plugin problem.