http://www.google.com/flights/#search;f=LAX,SFO,SEA,LAS,DEN;...
And the results still come back immediately! Including the three-month chart of prices. This leads me to believe that Google/ITA has precomputed all of these results, and is simply serving these results out of a cache of some sort. That would explain why they are only offering a limited set of origin airports at this time: it probably takes an incredible amount of computing power and storage space to pre-calculate all of the possible results.
Colour me impressed.