Load Problems

I'mi having some serious issue with load on a new server.

It's a Dual 1.26Ghz Tualatin, 2GB Ram, 36GB ultra160 SCSI.

Top shows only 1 process running (probably just top itself), cpu usage is about 80% free on both cpus, ram is 1.5GB free. HD is 68% free.

But the load...
[root@chicago root]# w
6:36pm up 1:15, 1 user, load average: 165.10, 55.93, 22.22

phew..

Does anyone hav ea clue what might be wrong?

EDIT: I noticed whenever I open any applications such as top or login to SSHD the load goes skyrocketing (this is not always).

 

 

 

 

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