I was trying to rip a PT 2x6 that I had bought at the borg a couple of
days back. Now like most of the PT in the borg, the wood was pretty
damp and clammy when I got it and it only had a couple of days to dry
out in my basement.

When I tried ripping it on my $500 Craftsman Table Saw (1992), the
blade started to slow down and finally bind after ripping about 10
inches. This happened with or without using the splitter and
independent of the height of the blade. I ended up having to rip it in
2 passes and even then it seemed to struggle a bit on the second pass
(with the blade all the way throught the stock).

I had never had this problem before with regular wood.

Is this common with PT (especially if not fully dry) or is this more a
sign of a misalignment or lack of power?