We use NFS-on-Debian extensively on our LAN with excellent performance.
I just did
$ time dd if=test of=/dev/null bs=16384
1962+0 records in
1962+0 records out
real
0m2.755s
That's 90 Mb/s, which is damn close to saturating our 100 Mb/s network.
To achive this, you need to (1) select rsize and wsize of nfs mounts
carefully, and (2) use SCSI disks, or good IDE disks tuned using hdparm.
There are some other little tweaks, too, but those are the most important.
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