Here's a screenshot to illustrate my problem:

as you can see, everything else has fully loaded with textures (prims, ground, trees,) and all prims in the area are fully loaded as well. there is zero to no latency in the meters.
Steps taken to trouble shoot this problem:
Restart SL
Restart Computer
Cleared Cache and restarted SL
Client>Character>Rebake Textures
Updated most recent drivers for my video card
Tested out beta drivers for my card
System:
ASUS mobo (939 socket set, nforce4 edition)
AMD64 3800+
2 Gigs 400DDR Ram
Radeon x1600 256mb (PCI Express)