Though emulation has improved to near perfection in many titles, the stuttering has remained the same over the years. When games barely ran at all, a little stutter here and there wasn't a big deal. This problem has been a part of Dolphin since the very beginning, but has only recently become more of a focus.
The slowdown when loading new areas, effects, models, and more is commonly referred to as 'Shader Compilation Stuttering,' by users and developers alike. Yet, every time you go to a new area, or load a new effect, there's a very slight but noticeable 'stutter.' You turn off the framelimiter to check and your computer can run the game at well over full speed. The game is running full speed, there are no graphical glitches, and you can use your favorite controller if you want.
When you're playing your favorite game on Dolphin with a powerful computer, things should run fairly well.