[c-nsp] PTP Latency

[Peder @ NetworkOblivion]

I've got the strangest problem and I can not figure out what is causing 
it, so I thought I'd seek other opinions.

Scenario:

There is a point to point T1 between two sites about 5 miles apart.  The 
T1's go into Adtran channel banks on both sides.  8 channels go to voice 
and 16 go to data.  The V.35 from the channel bank goes to a serial port 
on a 2620 on one side and a 1721 on the other side.  The utilization of 
the data side is about 6000bps both ways from the IOS counters.  Traffic 
flows fine both ways, so there isn't a routing issue.  The problem is 
that the latency is 200+ms both ways.  Even if I ping from serial IP to 
serial IP, it is still 200+ms so it isn't a lan issue at either end. 
I've got T1's all over the place and usually see 5-10ms pings, not 200+. 
  Memory, CPU and link utilization are very low on both ends of the 
link.  Any ideas what could cause this high latency?

Thanks.

Peder