Rebuild all of your indexes (perhaps after growing the file by 20% or so).

Shrinking causes massive fragmentation and will just result in the data file growing again next time data gets added. When that happens, the entire system will slow down as the file is expanded. Also repeated shrinks and grows will cause fragmentation at the file-system level, which is hard to fix.

See - http://sqlinthewild.co.za/index.php/2007/09/08/shrinking-databases/