I've done on paper reviews as well where it was just easier than getting access to the code repos. Sure it's like 50 lbs of paper but whatever. The nice thing with paper is you're basically sorting, you toss the interesting pages to one side and the uninteresting to the other.
Both of these were 20 person companies so I could review the 200-500kloc codebases in around 8 hours. It's not the most fun day :)