Ok this happened when our ISP changed their DNS numbers. After I added the new DNS numbers in teh DNS server outlook 2003 takes longer to connect to exchange 2003 server.
I can ping the server by name and IP address. So what seems to be causing the outlook to go so slow. Each outlook 2003 is configured as cached mode as well but this was not a problem before until now. Any immediate help is appreciated.
I called Microsoft Tech support and have been on phone with them almost half a day now and got so frustrated that hung up on them and they will be returning my money back for not able to solve the issue.