Please inform the parameters you use in fstab
when you mount your NFS share.
Something like this: 
<server>:/<share>
<mountpoint> nfs rsize=8192, wsize=8192, timeo=14, intr, tcp, bg, rw, bg,
hard, nointr, rsize=32768, wsize=32768, tcp, actimeo=0, vers=3,timeo=600
 
 
Emerson
 
 
-----Original Message-----
From:
xen-users-bounces@xxxxxxxxxxxxxxxxxxx
[mailto:xen-users-bounces@xxxxxxxxxxxxxxxxxxx] On Behalf Of Geoff Galitz
Sent: Tuesday, September 14, 2010
11:04 AM
To: xen-users@xxxxxxxxxxxxxxxxxxx
Subject: [Xen-users] IOwaits over
NFS
 
Hello.
We have a number of Xen 3.4.2. boxes which have constant iowaits at around 
10% with spikes up to 100% when accessing data over NFS.  We have been 
unable to nail down the issue.  Any advice?
System info:
release               
: 2.6.18-194.3.1.el5xen
version               
: #1 SMP Thu May 13 13:49:53 EDT 2010
machine               
: x86_64
nr_cpus               
: 16
nr_nodes              
: 1
cores_per_socket       : 4
threads_per_core       : 2
cpu_mhz               
: 2261
hw_caps               
: 
bfebfbff:28100800:00000000:00000340:009ce3bd:00000000:00000001:00000000
virt_caps             
: hvm
total_memory           :
32758
free_memory            :
3974
node_to_cpu            :
node0:0-15
node_to_memory         : node0:3974
xen_major             
: 3
xen_minor             
: 4
xen_extra             
: .2
xen_caps              
: xen-3.0-x86_64 xen-3.0-x86_32p hvm-3.0-x86_32 
hvm-3.0-x86_32p hvm-3.0-x86_64
xen_scheduler          : credit
xen_pagesize           : 4096
platform_params        : virt_start=0xffff800000000000
xen_changeset          :
unavailable
cc_compiler            :
gcc version 4.1.2 20080704 (Red Hat 4.1.2-44)
cc_compile_by          : root
cc_compile_domain      : gitco.tld
cc_compile_date        : Wed Nov 11 21:16:28
CET 2009
xend_config_format     : 4
And lsmod from a VM:
Module                 
Size  Used by
nfsd                 
284041  17
exportfs              
38849  1 nfsd
auth_rpcgss           
81889  1 nfsd
ipv6                 
424737  24
xfrm_nalgo            
43333  1 ipv6
crypto_api            
42945  1 xfrm_nalgo
i2c_dev               
43849  0
i2c_core              
56129  1 i2c_dev
nfs                  
289549  1
lockd                 
99185  3 nfsd,nfs
fscache               
52385  1 nfs
nfs_acl               
36673  2 nfsd,nfs
sunrpc               
197513  18 nfsd,auth_rpcgss,nfs,lockd,nfs_acl
iptable_filter         36161  1
ip_tables             
55329  1 iptable_filter
x_tables              
50377  1 ip_tables
dm_mirror             
54345  0
dm_multipath          
55385  0
scsi_dh               
41665  1 dm_multipath
scsi_mod             
197337  1 scsi_dh
parport_pc            
62313  0
lp                    
47121  0
parport               
73293  2 parport_pc,lp
pcspkr                
36289  0
xennet                
61129  0 [permanent]
dm_raid45             
98897  0
dm_message            
36161  1 dm_raid45
dm_region_hash         46401  1
dm_raid45
dm_log                
44993  3 dm_mirror,dm_raid45,dm_region_hash
dm_mod               
100753  4 dm_mirror,dm_multipath,dm_raid45,dm_log
dm_mem_cache          
39617  1 dm_raid45
ext3                 
168529  1
jbd                   
94257  1 ext3
uhci_hcd              
57561  0
ohci_hcd              
56053  0
ehci_hcd              
65869  0
xenblk                
50729  1