I've found a couple of alternatives, this CodePlex project and this commercial one, but the former is extremely inefficient in my testing, and the latter, well, costs $$. I've also found this implementation, but it's not so much a WrapPanel as a "TilePanel", and doesn't support automatically-sized items (though it does appear to be fast).
I've also found some "hints" on how to write your own here, but as the developer developed it on company time, he couldn't post his full source.
Has anyone taken the time to implement a decent VirtualizingWrapPanel and posted it publically, or am I going to have to take a day and write my own?
I've been seeking for the answer lately, and this is what I end up with, hope it helps:
We have used this one with some success: http://virtualwrappanel.codeplex.com
There is an issue with removing items from the collection, but you can resolved it with a small code tweak: http://virtualwrappanel.codeplex.com/workitem/1