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Well, I'm not sure what else it does, but I just loaded up 33c, and opened a 1500+ page text file (Atlas Shrugged) ran a word search to find my place around 300 pages in, and resized the text.
That would have taken several minutes to reflow before, now it did it in a couple of seconds! And the word search took a few seconds for the first find, then one or two seconds for subsequent finds. I'm impressed!
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