I know it looks like a case of thrashing on the HD but this is simply not the case. Running this on a W2K Pro box I watched the task manager and even setup process logging on the script. Not once did it use Virtual Memory, I peeked at 178MB of memory usage, this still left me with almost 100MB free with everything else running.
I know C++ code is going to be faster but this seems to be way way too fast.