Leslie,
When you get a chance, could you give us some follow-up on this. Every now and then, someone posts about II being slow to open, and relates it to the size of their II file. I wonder how widespread that problem is, if it is really related to the size of the file, and if a defrag fixes it.
We have 28 gb of II, and no issues. I sometimes wonder if we should worry about minimizing the size of the file.