Ah, good point, I spaced on that one!
I think the load averages shown with uptime are average number of processes running or waiting to run for 1min, 5min, 15min. Is that correct? If so, the numbers are useful for general purposes. But 200+ is insanely insane!
Most people sysadmins I've talked to say it should be around the number of processors the system has (same say double, some say # + 1). So even with the higher figures 2 cores on 2 processors x2 is still only 8.
Hopefully DH takes care of whatever is causing the crazy load.
Check out Gordaen's Knowledge, the blog, and the MR2 page.