Have you checked whether this happens for non-PHP pages on your PWS?
If Netscape takes long to connect to you webserver, this is an issue of PWS accepting the connection. The request is passed on to PHP after that, so PHP should not be involved in the delay.
Please try to get some static page with Netscape and drop me a line if the problem does not occur then. If it does, the trouble is somewhere between Netscape and PWS.
Cheers,
Ben