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Here's my code -- I would have contacted you directly, but I can't find your email. It's as simple as this: http://gist.github.com/578226#file_gistfile1.py (sorry, that's an editable link, so please be nice) Anyway -- the machine is not swapping -- python grabs ~20GB of ram, there is another ~100GB available. It pegs one of the cores. Nothing else was running during this test so there was no competition for the fsb.…
Is there any chance that SciPy was compiled without the ATLAS/BLAS/LAPACK libraries? (You can verify this using with the "numpy.show_config()" and "scipy.show_config()" functions in an interactive python session.) In that case, all the numerical math would be done in straight Python rather than optimized C/FORTRAN.
For sparse SVD as I implemented in scipy, even fast dot does not seem to make that much of a difference (would be interesting to do real benchmarks, though).