I don’t know am I missing something here, for some reason I added a custom source in Cydia (If you do not know about Cydia, start to know it by Jailbreaking your iPhone 2.x, thats the only way your iPhone flies.) and I cannot seems to be able to find any way of removing the sources from UI, with normal sources listed in Cydia I can remove them in Package, but not the custom added ones, thinks programmer forgot to add the function…..and it does slow down quite a bit when loading new releases…

Ok, here comes the search and found:
edit/remove/rename the cydia.list under /etc/apt/cydia.list to something else, keep in mind you may need root/su to do so.

mv /etc/apt/cydia.list /etc/apt/cydia.list.bak

Done done.