It's a Dell PE 2900 with Windows Server 2003 standard 64 bit, all windows updates applied.
CPU and Network are always under ten percent. Only Helios (file sharing) and SQL Server 2005 running on it. Eight 250 gig Sata hard drives with a Perc 6 controller, raid 5, one partition and it's read only to users.
Any ideas?
The problem was Virtual Memory was configured on a print spool drive. I moved the swap file to a separate physical disk and everything started working well.