I have large time to first byte for static content on IIS 7.5, it’s not site specific it’s slow for all sites on that server. runAllManagedModulesForAllRequests is set to false, and gzip is enabled for static content. How can I troubleshoot this problem ?
Here are the timings, time to first byte for fairly complex ASP.NET site is 368 ms, and for just grabing css file is 617 ms !! That time is different every time but still too much, not below 200 ms that seems way too much for such task.
Server has plenty free memory (in this moment more than 7 GB).

Does it happen every time?
Is compression turned on for the static object, what level is it set to and is the compressed version being cached on the server?
What’s the CPU load like?
Does it happen for all static content or just css?