I have an application running on a Hyper V 2008 R2 instance (2GB memory). The application is running on asp.net mvc 3.0 and .Net 4.0.
This is a low traffic internal application (1 - 2 requests per second).
We are experiencing an alarming number of application slow downs which we cannot pin point the cause.
This is a screenshot of stuck connection (more than 60 seconds time) in RequestAcquireState:

The server is a fresh installation of IIS7 and Windows Server 2008 (as recent as 10 days ago) and the only web application in the VM. We also use MSMQ in the application pool so that the app can broadcast messages to the queue.
There are 5 thin clients using NComputing terminal connected to one machine that access the web application.