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Can anyone speak to the difference the underlying hardware makes with Atom or Code?

Presumably a top-end desktop processor (~4GHz) and latest-generation NVME storage would offer really good performance, but perhaps not.

If I had to guess, the average setup is probably a mobile processor paired with a traditional SSD.

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A year ago, people made fun about how programs will get proportionally slower once all the developers have switched to SSDs. Now we're already talking about having to upgrade to NVMe disks for a decent code editing experience.

Take those numbers with reserve. If anything they are 8 months old, RSS is 56 MB for hello.c on my installation of VS Code. I can run VS Code comfortably in VirtualBox on a midrange i5.

Edit: Also moving around test.xml doesn't take 22 seconds, it's pretty much instantaneous, although replace is still slow.

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