I just got off the phone with my host - Host Gator, and after a few minutes of banging my head on the wall, they suggested that my high server usage was as a result of a plug in on my site slowing it down and causing it to time out reaching a 500 Internal Server Error.
Host says the problem is a plug in that is taking to much memory when trying to make a new post.
This happened when attempting to make a NEW POST from the admin screen.
Now, this may be umping to conclusions, but upon disabling JetPack the problem has gone away.
With Jetpack DISABLED I can access the site, make new posts, and otherwise get into the site.
Is anyone else having this kind of issue with JetPack running?