The performance impact is really huge between admin logged in and a normal page view by a non-logged in user (if the page is not cached), like 10x, 2-3 seconds vs. 0.2 seconds. Wonder what might cause such a big slowdown, it happens on all pages, also very basic ones, like zenpage pages, or even the 404 page is slow, so doubt it's connected with the options table or rights check.