Hi Father Guido, ;-)
If you don't have indexes on your SQL Server tables, queries could be dramatically slow, regardless of the version of SQL Server you are running.
On the application side, an example can be using outdated MDAC, ODBC drivers, etc. can cause performance issues in some cases, but this is just an example, I'm not saying that this is your problem. I'm saying that you should do some digging.
Basically, there is a recommended way to architect your server and databases... there have been some other changes that might possibly have affected you as well. If you have dinked with your server settings, you could have shot yourself in the foot... have you done this?
This will be a needle in the haystack until you can begin to isolate your problem. I would suggest using the SQL Server related perfmon counters to start (for server, memory, disk i/o, network measurments, etc) in order to eliminate those possibilities.
But, normally when things run slow, it's usually caused by poorly designed queires, the lack of indexes, the lack of updated statistics, etc...
Again, 7.0 is much more efficient that 6.5 and has many optimizations that destroy 6.5s performance, therefore, I am inclined to believe that you've got some design deficiency or some architectural issue of some kind.
Tom