700ms is a fairly long time. Usually, there is some form of I/O that is going on that consumes that amount of time. There will be a bit of I/O to read in the layout resource the first time, but that is usually fairly cheap due to the small size of the compiled edition of the resource.
So, I would start running experiments. For example, temporarily replace your layout resource’s contents with a single
View, perhaps with a background color. See what your performance is like. If it is still bad, then the problem lies somewhere other than the actual layout inflation (e.g., data binding overhead). If it is better, slowly convert the layout to what you need it to look like, and see at what point your performance plummets.
Rather than systrace, you might consider Hugo or something similar to specifically measure the time you are spending in