Please help with optimization

[otherjohn]

Hello All,
I am looking to optimize my nginx setup but am new to nginx and some of the
settings. Currently the webserver is set to just default settings and on
using an forum import script to migrate our forum from another softward I am
getting  "upstream timed out (110: Connection timed out) while reading
response header from upstream". 
Could someone give me some suggestions?

I am running an Amazon ec2 Ubuntu Precise 64 server with the folowing
hardware setup
7.5 GB memory
4 EC2 Compute Units (2 virtual cores with 2 EC2 Compute Units each)
850 GB instance storage
64-bit platform
I/O Performance: High

I am running nginx 1.2.4 and PHP 5.3.10-1ubuntu3.4 (fpm-fcgi)

The website will be running a forum with on average 2000 visitors at any
given time, over 60k members and 4 million posts.
I need help with the following setttings that currently only have the
defaults set.
php-fpm's php.ini
php-fpm's pool configuration
nginx.conf
anything else you can suggest.

Thanks so much!

Posted at Nginx Forum: http://forum.nginx.org/read.php?2,231369,231369#msg-231369