After throwing an item (q) there is a big time delay before i am able to pick up the item
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This report says it's still happening in 1.8-pre1, but it should have been fixed in this version.

Its definatelly not lag cuz i was playing in a flat world and I have a super PC. anyway it has already been fixed so...
That's known by many minecrafters as lag. Try turning your render distance down and graphics to fast instead of fancy.