To add some data to this conversation, I just timed allocating a billion 
Int64s on my macbook, and I got this (I ran these multiple times before 
this and got similar timings):

julia> N=1_000_000_000 
1000000000 

julia> @time x = Array(Int64,N); 
elapsed time: 0.022577671 seconds (8000000128 bytes allocated) 

julia> @time x = zeros(Int64,N); 
elapsed time: 3.95432248 seconds (8000000152 bytes allocated) 

So we are talking adding possibly seconds to a program per large array 
allocation.


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