Fowarding transactions - is this possible?

[Ben Schwartz]

I was wondering if the following was doable:
We run an application on a Server that doesn't allow multi-threading which is running MySQL 4.0.21. The application is "locked" to use localhost:3306 as the port for mysql (and not a external ip address).

The problem is that mysql is extremely slow on that server. For testing purposes i replicated the db to another server running 5.0.27 on hardware that support multi-threading and queries are more than 10 times faster.

Moving the application isn't an option. What i was wondering though is if there might be a way to "forward" transaction to another server at the mysql level not at the application level.
Would anyone have some insight about this?

Thank you in advance.