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I do, I got around 2million files. Once the indexing is done, there is no performance hit on the system. It goes to background when you are using the PC and it isn't everyday a user adds a couple of 1000 files to be indexed.
The big beef I have with the indexing service is that it fails to keep the index up-to-date. But it's really nice to be able to search for specific files inside a folder.
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File management takes a long time, but it is not "broken", there is actually a fix for this on windows download. Regarding DRM, No, you are wrong. First of all, I don't usually respond to a comment based on "Rumors..." but for your info, Vista has SUPPORT for DRM. Meaning : IF the content makers CHOOSE to include DRM in their content, then Vista has support for this. HOWEVER, Vista does NOT force ANY DRM on your files and also you can play and use DRM free files as usual without any problems. Facts are better than rumors.
You are incorrect in some. Vista actually has DRM and yes, it is implemented for Blu-ray and HD-DVD. If you don't have an HDCP-compatible monitor and graphics card, the resolution will be downscaled 4x.