[Optimus One, P500, V General] yuripg1:
Ok, I want to explain some things.

The I/O scheduler manages the I/O operations on a storage volume, like the internal storage of our phone or the SD card, not the RAM memory.

More informations, including a description about various I/O schedulers (some of them may or may not be included on a particular kernel) you can find here:

http://xdaforums.com/showpost.php?p=17131914&postcount=2

To change the scheduler, you can use an app like No-frills CPU Control, that you find here:

https://market.android.com/details?id=it.sineo.android.noFrillsCPU

In case you use it (with the "Apply on boot"), make sure the CPU settings of CyanogenMod aren't active so they don't collide.

But, if your only problem is the SD card speed, increase the cache could be a good choice. For it, you can use SD-Booster:

https://market.android.com/details?id=de.mehrmann.sdbooster

A good value is 2048 KB (then checking "Set on Boot").

The V6 Supercharger is a script to tweak the memory management of Android. Despite the fact that memory operations are a kind of I/O, they're not ruled by the I/O scheduler being used by the kernel.

This is the thread of the script:

http://xdaforums.com/showthread.php?t=991276

And this is where you can download the latest version:

http://xdaforums.com/showpost.php?p=18703418&postcount=5021

By this time, the latest version is V6_SuperCharger_for_Android-Update9_RC6.sh.pdf.

It's a script, not a PDF. I would recommend you to use Script Manager to run it.

You can find it here:

https://market.android.com/details?id=os.tools.scriptmanager

Important: the creator of it says to not check the option of locking the home app on memory prior to using this script (CyanogenMod has this setting)

Following this logic, I would recommend you to not lock the messaging app on memory too (just a guess, don't know if it matters).

You'll open Script Manager and select the script (the file with the .pdf extension) and, before running it, check the SuperUser icon (on the top left, I think) to run the script with root privileges. Then run the script.

Now, after answering a few configuration questions, you'll see a lot of options. The main feature of the script are the options 2-10. You have to pick one of them.

For our phone, the recommended choices are 5, 6 or 7 (pick only one).

5. UnLedded (Multitasking){6,12,40,50,60, 75 MB}
6. Ledded (Balanced){6,12,55,70,85,100 MB}
7. Super UL (Aggressive){6,12,75,90,95,125 MB}

If I explain everything I'm going to be here all day long, so do a bit of research and make sure you know what all those options mean before you make your choice.

Here:

http://lmgtfy.com/?q=minfree+android

I think the following link has a great explanation:

http://www.androidcentral.com/fine-tuning-minfree-settings-improving-androids-multi-tasking

Now just type the number of your choice and hit ENTER.

You can also find out more about the other options on the script (and some other scripts the same creator has) and try to use them.

I may have missed some important details here, so read carefully the links I posted so you're on pair of everything.

Wow! Sorry it got too big, but as I just kept adding information to make sure I'm giving the whole information (not just some minor pieces of it), the post has grown a lot. :(

But I think I'll stop by now. :)