I guess you need to figure out why its running slow...
You could play with some of the java command line options (memory and such), but with that configuration, I'm not sure how much you'll benefit from it.
ie java -Xms256M -Xmx256M
The first is for Minimum Heap size (256MB) the second is for Maximum Heap size (256MB). These are typically the same size. Since Max is allocated at startup.
Another is -Xss (virtual memory allocated for the stack size of each java thread).
I would only play with the Xms and Xmx parameters initially.
There's a bunch of others, but you need to figure where your problem lies. Is it disk i/o or memory or...
You can always google "java tuning" and get more tips.