I had this exact problem with a mid-2011 27" iMac with 4 GB of RAM. I got the spinning beachball for sometimes minutes with OS X 10.10.2. The upgrade to 10.10.3 improved the situation somewhat, but it still wasn't as responsive as Mavericks. Doing a clean re-install of Yosemite was not an option because it would take me too long to re-install everything else I have on this system. Last week, I got so frustrated that I started disabling daemons to see if one of them was causing a problem. The problem went away after disabling a bunch of them, my system has been perfectly responsive for the last week!! It has been a long time since I have been able to launch Safari in a single bounce of the dock icon (it used to take about a dozen bounces or so), but now it is always just one bounce again! And my beachball problem is gone! Horray!!
Here are the Terminal commands that I used to solve this problem (I am guessing it was the disabling of the cloud stuff that fixed it):
launchctl disable user/501/com.apple.cloudpaird
launchctl disable user/501/com.apple.Maps.mapspushd.icloud
launchctl disable user/501/com.apple.cloudd.cache-delete
launchctl disable user/501/com.apple.security.cloudkeychainproxy3
launchctl disable user/501/com.apple.cloudfamilyrestrictionsd
launchctl disable user/501/com.apple.icloud.fmfd
launchctl disable user/501/com.apple.cloudphotosd.push
launchctl disable user/501/com.apple.icloudusernotification.agent
launchctl disable user/501/com.apple.icloud.fmfd.aps
launchctl disable user/501/com.apple.cloudphotosd
launchctl disable user/501/com.apple.cloudd
launchctl disable user/501/com.apple.SafariCloudHistoryPushAgent
launchctl disable user/501/com.apple.AirPlayUIAgent
launchctl disable user/501/com.apple.bird
I also disabled a few non-apple things:
sudo launchctl disable system/com.microsoft.office.licensing.helper
launchctl disable user/501/com.adobe.AAM.Scheduler-1.0
launchctl disable user/501/com.google.keystone.agent
After doing this, log out then log back in again.
Disclaimer: I really don't know if all of these commands are appropriate, but I don't really care because my system is working so well right now and I don't use the iCloud stuff anyway.
Note that if your user ID is different than 501 you will have to change it in the commands above to get them to work for you. Run "id" in the terminal to determine your user ID.
- Phil