IIS requests could be slower if your log file directory is invalid or offline
If you are pointing your W3SVC log files to a location that is incorrect or goes offline, especially if it is a remote UNC share like \\server\logs – your requests on IIS 6 could be slower. The reason is that HTTP.sys wants to write an entry for each request and there is a delay when it tries to write to an invalid location. This would be even slower if it is an invalid UNC share, since the timeout waiting for a response would be longer.
Make sure that your log file directory is valid and that your permissions are valid, allowing the machine account write access to the location. The good news is that this shouldn’t be a problem for IIS 7.