Here is a nifty article on speeding up WordPress.  I’m still not terribly thrilled with the performace on IIS.  I’m not sure if it’s the PHP Engine or the database backend now.  I’ve noticed that php-cgi.exe spikes at 100% when viewing some pages.

Anyway, here it is.

It gives two options for “speeding” things up: IIS’s Output Caching and WP Super Cache.  Each have their downsides, but maybe one will work for you (and me).