Google wants your website to be faster. Matt Cutts recent interview at PubCon clearly indicates this. So if your website is slow, pull-up your sleeves and start working to make it faster. It would not only make your visitors happy, but can also improve your search rankings.
- Identify garbage codes on your pages and remove it. Html, css, javascript, any junk that has piled up there should go.
- Follow web standards. Check w3c validators to remove and correct your codes.
- Happy talk should die. Check, edit and remove unnecessary content that does not create value.
- Reduce graphic images and file sizes or other media which is creating overload without creating much design and usability benefits.
- Be real stingy
Website load speed is a usability issue. By making your site faster you are providing users a pleasure equivalent to driving on the freeways.
Matt Cutts Interview Video on Page Load Speed
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Hi, I am Ashish Kothari. I have helped several small and medium businesses make money from the web over last 12 years. If you have a project and need help in online marketing, improving SEO - website rankings, traffic, usability or conversions 
Thanks! I use Atahualpa – a WordPress template. It’s free, but with a small donation you could remove the bottom link. Worth it if you are optimizing your website for SEO.