Microsoft Optical Mouse – Fix Cursor Movement Issues

DevDoc's answer made it clear to me that it was the Intel Graphics drivers. And it only happens when multiple screens are connected to the Intel Graphics chip. (By that, I mean that they are connected to either the motherboard video output ports (desktop), or (in my case) any laptop video output)

Rolling back to these drivers (15.28.7.64.2867) worked for me. (Intel i7-2630QM on Windows 8 64-bit)

Check which drivers you need on this page. I suggest simply grabbing the "previously released" drivers.

Edit
I also suggest FIRST trying to update to the newest drivers at the time of reading this, THEN downgrading. By the time of anyone reading this, they may have already fixed it. If so, please post a comment to this answer, and I will update it.

Edit 2
I have found out, that, after a few reboots, the lag randomly appeared again, and contacted Intel support. They weren't of very much help, as I quote: "Please be aware that we provide generic drivers that have not been developed or tested specially for your system.". I personally read this as "Intel obviously has 0 to do with the drivers not working, it's definitely the manufacturer of your laptop..."

I will keep at this, until I find a solution. Meanwhile, I just installed the new 9.17.10.2875 driver, and the issue seems to persist.

Update
According to an Intel official over at the Intel forum topic, the issue has been resolved, and will be included in the next update.

I suggest you guys keep checking the driver download page for an update for your HD Graphics. I would assume getting the update WHQL certified (meaning it'll be automatically updated through Windows Update) will take quite a few weeks. They'll probably release a beta on the driver download page before it comes through Windows Update.

Remember to revert the Group Policy rule of installing Intel drivers, as described in this post, for anyone who applied it in the first place, otherwise it simply won't install.

Update 2
It seems like Intel has fixed the issue!

For some reason, my driver did NOT automatically update through Windows Update though, a manual installation may be required. Download the version appropriate for your CPU here.

If you minimize everything (so as to not accidentally close the wrong application) then click into the empty space and press alt + f4 it will close that invisible application that's running.