One of my Proxmox hosts is glacially slow at running VMs. (Dell R520; I have a same-generation server that is fine at VMs, so not sure what the root cause is). I wonder if this would help performance.
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Any chance irq-balance isn't running on the slow one, but is running on the ok one?
Doubt it because you clearly have a problem there. Same kind of disk?
Yep, 7200 RPM spinning rust.
This is unlikely on a server but is the Virtualization settings enabled in the BIOS? Worth a look if you have a 10 to 100 fold performance difference. (Though not even sure if proxmox would run with vt turned off).