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There are two problems in Oracle 8.1.5 and 188.8.131.52 which can cause significant performance degradation. If either SQL_TRACE and/or TIMED_STATISTICS are enabled, the instance will have high version_counts in V$SQL and cause SQL not to be shared across multiple connections.
Make sure these parameters are disabled in the init.ora file of the instance.
These have been reported as Oracle bugs 918002 and 888551. Both have been fixed and verified in Oracle 8.1.6.
This affects all ArcSDE 3.x and 8.x servers running on Oracle 8.1.5.