Well, as Joe says, the initial loading speed is not caused by your database. However, one question you will need to make is how many people can access a SQL server express database at once? You may find it has a limited number of connections unlike a full SQL Server 2000 database. For a live website, you may find that you need to use the full SQL Server database.
I always use SQL Server databases, and if you look at the various hosting packages available you will see they all use SQL server rather than SQL Server express.
I have not tested a SQL Server express database on a live website, so I cannot comment on the performance that will be available.
Regarding the question of portals and databases, if the website are separate domains and are completely separate websites, I create a separate DotNetNuke installation for each of them and each uses a separate database, you may find this tutorial useful for guidance:
Portal Considerations (When to use Multiple Portals / Parent / Child or create a new DotNetNuke installation)