For most people, no.
Most modern computers will run WhatPulse almost invisibly along-side all other programmes. It uses a very small memory footprint for almost all users, however there are some exceptions.
If you are finding WhatPulse is lagging your computer (likely whilst playing a game), then you are invited to share as much information as you can with the development team to help fix it in future releases.
Join our forums and post a reply in the following topic and help us out! http://forums.whatpulse.org/showthread.php?t=4188
The release of WhatPulse for Windows 1.6 will hopefully solve a lot of latency issues with WhatPulse for Windows 1.5.