HN does no output buffering, causing rendering time to often be closer to 5 seconds than 100ms in Europe. This is trivial to fix, but I guess the SFO crowd don't feel the pain so it probably never will.
Edit: nope, that's not it. Using the fastest UK machine with clean net available to me, tcpdump never shows more than 1 unacked packet on the wire at any time, gzip is turned off, and keepalive is turned off. Gzipping the 24k home page drops it to 4.3k.
None of this really accounts for the crazy jitter we see in Europe while rendering the main table.