If you have a processor queue then yes, that means that commands have to wait for a CPU to finish what its doing before being able to preccess the next operation.
A page life expectancy of 4200 seconds is pretty good as that means that data is being kept in RAM for 70 minutes before needing to flush that data from RAM to make room for more data. You want this number as high as possible, same goes for the buffer cache hit ratio.
I would at this point look at the disks. How long are your read and write operations taking? How much data are you pushing to the iSCSI SAN? What else is being hosted on the same physical disks that your database LUNs are on?