rocknbil - 5:23 pm on Apr 19, 2011 (gmt 0)
Increase memory limit for PHP? Shared hosting? Poor mySQL setup at the host?
Temporarily swap to a bare-bones-nothing theme, no graphics. "Objects too large" sounds like it's loading huge images - which is entirely likely, if it's not using actual thumbs it could be loading full images in thumbnail sized containers.
I really don't think it's WP. WP seems a bit inefficient, could be faster, but in most environments I've worked with it is not ridiculously slow.