Well, I did find a few things that have made 3.1 go a bit faster but compared to the previous version is still booger-like slow.
I took out all the <script></script> statements in the header.php file and moved them to the very bottom of the footer.php file. That gave me some more speed.
However, one plug-in (glideshow) uses jquery.js and by putting the script with that command in the footer.php, the plug-in stopped working.
So for now, I have simply removed the plug-in from my site altogether, which of course changed the look and feel of my main page but at least I got a bit more speed.
Until they fix this sluggishness I've decided to settle for functionality over good looks. A slow loading site is all that it takes for readers to take off like flies.
Anybody has anything else to increase speed I am eager to know about.