Vim Unimpaired plugin by Tim Pope ships with a shortcut for quickly toggling CursorLine and CursorColumn. This is particularly useful on large files with plenty of syntax highlighting.
Turning CursorLine/CursorColumn off can speed buffer navigation by reducing the blocks being re-rendered on the screen, making Vim snappy again.
To use this shortcut type
cox from NORMAL mode and Vim will toggle CursorLine and CursorColumn on and off.
h/t Chris Erin