CPU Wait times at 12,000 MS Consistantly

Hello All-

First time poster.  I am noticing a constant CPU wait time of 12,000 MS on average for all VM's. This is on both a 4.1 and 5.0 cluster. CPU ready times are an avg of 2.0. As basically a noob to VMware, from the hypervisor administration side, what can someone tell me on this ?  My virtual machines, on both clusters, experience 'slowness', 'sluggishness, and 'type lag'. As expected, from the OS level, the VM's appear to be purring like a kitten.

Any thoughts ?

Thanks for any help.

Kyle