I'd like to take issue with that, Brian.  As far as I am aware what you say is 
right for a LIT equate, but not for a TO equate.

With a TO equate the compiler evaluates the expression, so that the literal 
string (in the current example) "ABCD~EFGH" would be what was substituted 
throughout the code.

With a LIT equate the expression itself is substituted.

Please correct me if I'd got that wrong - I'm not anywhere with access to VLIST 
at the moment.

Regards,
Ray

> ----- Original Message -----
> From: "Brian Leach" <[EMAIL PROTECTED]>
> To: u2-users@listserver.u2ug.org
> Subject: RE: [U2][UV] EQUATEs Using System Delmiiters
> Date: Wed, 8 Oct 2008 09:59:13 +0100
> 
> 
> Perry
> 
> Actually you're going to feel the pain more..
> 
> Remember that an equate is nothing more than a literal substitution by the
> compiler. Every instance of MX will be replaced by 'ABCD':@AM:'EFGH'. So
> everywhere you access 'MX' you will also be performing the operation
> ('ABCD':@AM:'EFGH'). That's a higher overhead than setting up a variable e.g
> MX = 'ABCD':@AM:'EFGH' and using that.
> 
> There are plenty good reasons for using EQUates, but that's not one of them.
> 
> Regards
> 
> Brian
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