If anyone is using Godaddy to host their site I would think about changing for this very reason. I had my original site hosted there and at first it was really fast but after 3 months it was unbearable. Webmaster tools noticed this too as it showed my site in the slowest 75 percentile---ouch! I moved to a new host and notice a 5 spot jump in rankings immediately.
I don't know if you will see this jump but if you are having speed issues and your hosted on Slowdaddy
then it might not be your website. They are notorious for overselling their servers.