import subprocess hangs for ~25 seconds, 700+ files in dir - py 2.7.3, & 2.6.6

I'm running this test from a LiveCD to make sure the environment is relatively clean.

------------------
localhost Desktop # python --version
Python 2.7.3
-------------------  <<<works fine here>>>
localhost Desktop # cat sp.py
#!/usr/bin/python

import subprocess

print "Done......."

-------------------
localhost Desktop # ls -1 | wc -l
7

-------------------
localhost Desktop # time python sp.py 
Done.......

real	0m0.027s
user	0m0.023s
sys	0m0.003s


--- BUT--- <<< This cannot be right>>>
localhost Desktop # mv sp.py  ..
mv: overwrite `../sp.py'? y
localhost Desktop # cd ..
localhost jonesda0 # cat sp.py
#!/usr/bin/python

import subprocess

print "Done......."
localhost jonesda0 # time python sp.py 
100000000
Done.......

real	0m25.336s
user	0m25.270s
sys	0m0.014s
localhost jonesda0 # ls -1 | wc -l
758

Only change is the number of files in the directory.
I have tested this on several different LiveCDs but the results are the same.  Is there some sort of flag I need to know about?

FWIW, I do not see the problem when using python3..

localhost jonesda0 # yum -y install python3
Loaded plugins: fastestmirror, langpacks, presto, refresh-packagekit
...
Installed:
  python3.i686 0:3.1.2-14.fc14                                                                                                         

Dependency Installed:
  python3-libs.i686 0:3.1.2-14.fc14                                                                                                    

Complete!
localhost jonesda0 # time python3 sp.py  ## (print function...duh)
  File "sp.py", line 5
    print "Done......."
                      ^
SyntaxError: invalid syntax

real	0m0.048s
user	0m0.044s
sys	0m0.004s
localhost jonesda0 # vi sp.py 
localhost jonesda0 # time python3 sp.py 
Done.......

real	0m0.091s
user	0m0.084s
sys	0m0.006s

localhost jonesda0 # python3 --version
Python 3.1.2