Moved WP site to IIS 7.5 and now it's slow

Thanks in advance for the assistance.

I’m working with a company that is hosted with GearHost – very happy. We need to move the WP site from one product to another which moves it from a Windows 2003 Server R2 to a Windows 2008 with IIS 7.5. The folks at GearHost copied the site to the new server, but whenever I point my DNS (godaddy) to make the site live it gets really, really slow. It takes 10+ seconds to load. I tested extensively last night, clicking around the site to try to isolate the issue. Then, this morning, when folks started hitting the site, it crashed due to “too many connections” to the mysql database. Can anyone help? I am going to try again tonight during a maintenance window to turn off permalinks to see if that’s the issue…I’m stumped and have been looking at it with Page Speed (google Chrome), but I can’t figure it out. I’ve checked the site url, and home settings. It seems to be something specific between WordPress and IIS 7.5? Is there maybe something that WP does automatically during installation that my setup is missing because it was copied from the 2003 Server.

Again, assistance is MUCH appreciated.