Can i just check - ID 301 ? InDesign CS3 ?
What spec is your computer? RAM / Processor etc.
Also ... Why EPS files ? InDesign prefers native files such as Adobe illustrator AI and Photoshop PSD files more than EPS files.
You can turn on High Quality Display to each page or image on a page rather than all images.
That is an ancient version of InDesign but even when it was released almost 20 years ago, EPS was pretty much dead. It's really time to move on.
I just noticed the original post is from 2006....
Oh, yeah. Why was a 14 year old discussion even available to answer?
Well spotted - not sure why it came up on my screen. Also ...why did no one reply back in the day...
EPS strores a preview image with the file, so the problem is likely limited to the preview proxy, and not the file itself. Try exporting a PDF and check the file in Acrobat.