After writing hundreds of tests for my new in-the-works Pod parser (where I have test code like
I like L<< SWITCH B<<< E<115>tatements >>>|perlsyn/Basic I<<<< BLOCKs >>>> and Switch StatementE<115> >>), I
actually ran some real documents thru it -- perlfunc and perltoc. On my not exactly fast laptop, all of perlfunc took two seconds to turn it into wrapped and indented XML; and perltoc took six seconds -- probably because of all the little tiny paragraphs; there's a per-paragraph overhead in the processing.
And those are the two longest pod documents I see in my local Perl install (about a quarter-meg each).
I wrote the whole system to work not to be fast; so I'm sort of surprised that it's pretty fast.