I've taken the following measures and it still is painfully slow:
1. Enabled CSS minification
2. Installed W3 Total Cache plugin
3. Setup Amazon Cloudfront
4. Increased php memory limit to 128
I've run my page through Pingdom and it's telling me that my site is 88% slower than all other sites. (screen shot attached)
Any advice is greatly appreciated. BTW, I am NOT an expert on how to best setup W3 Total Cache so if anyone has advice on what to enable and what not to enable, I'm all ears.