Setting up a dedicated mysql server

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http://serverfault.com – I got a dedicated VPS and installed mysql on it(I am new at this). Now from my web server(on a different server), when I make queries it takes 10x longer than it used to take to make the queries when the database server was on the same server. I think mysql server on the dedicated VPS is just configured wrong, especially with the cache sizes. How do I properly set up the mysql server to gain performance? Or is this not a performance issue? (HowTos)