30k pages a day is about one a second average, quite a few more peak.
What's your read/write ratio? If your site has lots of writing, mysql will starve due to it's coarse table locking mechanism.
What OS are you running? Windows NT/2k are not very fast under PHP right now due to the differences in how both are designed. Unix is the preferred platform for high performance of PHP.
Are most of the hits on the main index.html page? If so, you can extract this every few minutes with a wget http:server.com/index.php3 index.html to speed it up.