Hello,
I found the problem with my site was that on writing a NEW post (not editing an existing one) there was a script that was loading the post meta for EVERY post-id in the whole database. In my case about 30,000 records. This killed the system. What I did was prevent the load of post meta by modifying the wp-admin\edit-form-advanced.php and removing the load of the custom fields meta.
<?php
$metadata = has_meta($post->ID);
list_meta($metadata);
?>
This fixed the problem and it loads very quickly now. May not be elegant but then again neither is loading every post in the meta!
GW