Fatal error: Maximum execution time of 30 seconds exceeded in /home/lasero5/publ

I would start by testing for theme and plugin conflicts:
http://www.gravityhelp.com/documentation/page/Testing_for_a_Theme/Plugin_Conflict

Looks like too many things are running at the same time causing PHP to timeout. You should not have to extend the maximum execution time beyond 30 seconds.

See if this form will work with the default Twenty Eleven theme and only the Gravity Forms plugin active. If not, then there is probably a problem with this form (maybe it's very complex or long.)

I just submitted a test and had the same experience.

However, I first submitted the form without the required information and got back a validation error fairly quickly. It only timed out when it needed to create the entry (access the database.)

I would begin by checking for theme and plugin conflicts using these instructions http://rkt.gs/testing

If you still have this issue when you are using a default theme with no active plugins other than Gravity Forms, please post back.

Please also try submitting from the form preview and see if you have the same experience.

Additionally, I submitted this form without incident:
http://www.financialinsights.net/contact/

That leads me to believe it is something specific about your longer, more complex form. Are you integrating that form with any external services or using any custom functions to process the form submission for you?