The following numbers are for Chandler running headless

Linux Build: Chandler_linux_2005082133829
Attribute	Memory	Time
Startup with a new repository	198 MB	16.9s
Startup with a saved, empty repository	182 MB	2.2s
Startup and import a 3000 event calendar	260 MB	162.5s
Startup with a saved, 3000 event repository	182 MB	2.3s
Mac Build: Chandler_osx_20050803082500
Attribute	Memory	Time
Startup with a new repository	265 MB	48.5 s
Startup with a saved, empty repository	230 MB	6.4 s
Startup and import a 3000 event calendar	331 MB	455.3 s
Startup with a saved, 3000 event repository	230 MB	6.4 s

Andi says that the repository won't be freeing things from memory until it hits a 10,000 item treshold. It needs to be configurable.