Is "All My Files" slow because of my git and svn repos? All My Files is often painfully slow, long beach ball spins when I open a new finder window.

The thing is I actually like it...  and I'm wondering if perhaps it's because of all my GIT and SVN repos (many of which have 100's of thousands of small files.  Last time I full TM backup I had roughly 2 million files.

FYI, this is on a 2011 MBP with a 512GB SSD (Crucial m4) running 10.8.1.  Everything else is is super fast, it's just "All My Files" that is painfully slow...

Side note: wondeirng if Spotlight is trying to index all those git/svn files as well...  is there a way to tell spotlight to ignore folders by name? (ie. ignore .git everywhere...  kind of assuming it already does, just not sure)
It would seem that have too many files in Spotlight does indeed slow down "All My Files" in finder.  

It doesn't really matter that the files are in code repos, although repos do tend to have lots of files.

Upon removing my ~/Sites folder from spotlight which contains only 15GB of data, but more than half of the 500,000 files Spotlight was indexing "All my Files" came up nearly instantly again.