Funny enough, saving the file as ASCII and then opening that up made the smoothing take longer.

Now that I think about it I should just export the mesh itself and the whole scene as ASCII... Hmm...

Please, if anyone has any more suggestions, I'd love to hear them. I doubt it's a hardware thing. I'm on an Athlon64 2200 with a gig of RAM. My old machine at my previous job was a quad P4, with 2 Gigs, and I still had this problem