#2 above is your primary culprit - it's a combination of the number of files in the directory and the size of the data that needs to be loaded on each request. Using the Mass Move tool to leave that forum with only a thousand or two topics will result in a noticable performance increase without any loss of data.
There are no migration issues involving the Accelerator - go turn it on. <img src="https://www.ubbcentral.com/boards/images/graemlins/smile.gif" alt="" />
And, of course, upgrading the server itself will always speed things up. Concentrating on disk I/O will be your best bet if you'll be staying with UBB.classic in the long term. If you're using IDE disks, look at going SCSI, or at least to a good hardware IDE RAID. (Yes, the I/O speed will matter, even if it doesn't look like it does now.)
What sort of performance are you trying to achieve? For users on dedicated servers, we generally advise moving off to UBB.threads or UBB.x at or above the one-two million pageview per month level. (On shared, we advise going to dedicated or to UBB.threads/UBB.x at around half a million.) Scaling the 6-series much higher than that is very difficult due to the limitations of what can be pulled off using flat files alone. <img src="https://www.ubbcentral.com/boards/images/graemlins/smile.gif" alt="" />