Problem only occurs with Novell client. Microsoft is OK. So, the simplest solution is to switch to Netware client. Also, according to Novell the problem only occurs with Windows 95. Windows NT is fine. Novell has a discussion of this problem on their web site. It may be found by going to support.novell.com/search/kb_index.htm, search on pdoxusrs.net, then select the document called "slowness when launching Paradox on Windows 95"

Here is the solution this document states:
Cache writes = off 
Close Behind Ticks=0
File Caching=0
Lock Delay= 
Lock Retries= 
Read Only Compatibility= on
True Commit=On
Opportunistic Locking=off (with the older client)