Upon trying to locate an unexplained, massive performance reduction when switching host for a number of applications from obsd 4.1 to 4.2, I found that it seems gettimeofday() has taken a nosedive in performance as of openbsd 4.2.
A very blunt test confirmed it; however, I'm not sure wherein the process of gettimeofday() this happens. I can only imagine the performance issues this has lead to in environments that do frequent time-polling (heavily burdened webservers come to mind). http://pastebin.com/m311250a6