I think load times mainly come down to the web server load.
On a server that hardly any load, I would imagine a WP site to render in less than 5 seconds. On a heavy loaded server, obviously I would expect this number to increase.
On average, WP sites render around 3-4 seconds on my two servers.
AMD Athlon 1Ghz / 640Mb Ram / 80 GB HDD
AMD Athlon 1.3Ghz / 768 Mb Ram / 120 GB HDD
Both servers act as mail servers (each hosting at least 3 domains), they also run spam filtering, shell access, etc.
I’m quite lucky to be able to host my own web servers at home therefore I have total control over them.
I’ve not made any changes to my WP database schema either, it’s pretty bog standard expect for a small change in the _users table, which logs the time/date that user last logged onto the site.
One thing you may be able to do is optimise your DB tables;
OPTIMIZE TABLE
blacklist ,
wp_categories ,
wp_comments ,
wp_linkcategories ,
wp_links ,
wp_optiongroup_options ,
wp_optiongroups ,
wp_options ,
wp_optiontypes ,
wp_optionvalues ,
wp_post2cat ,
wp_postmeta ,
wp_posts ,
wp_users
This can sometimes speed things up.