My changes do seem to be helping. The server used to be flat-line pegged at 100% and now it at least has breaks in the pegging. So progress is being made. I have a dedicated server so it's all mine. On the downside it only has 2g of memory and that's its max. I would have to pay more to go to a new server and I can't afford that right now. So I am trying to squeeze the most I can out of this one.
I'm going to upgrade to the latest version of UBB. Then I'm going to upgrade from the PHP 5.3 line to the PHP 5.4 line and see if that helps.