I had alway wondered why IE appears to work so fast sometimes (not that I am at all unhappy with the speed displayed by Phoenix). Now I know—unsurprisingly, IE and IIS are cheating. Read the explanation here (via mpt).
This is Internet Explorer cheats! by Simon Willison, posted on 5th January 2003.
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Previously hosted at http://simon.incutio.com/archive/2003/01/05/internetExplorerCheats