Rails 3 is slooowww

Why is rails3 so slow to initialize?

I am running 1.9.1 which I know is known to give some rails3 issues. Can that be the reason? Here's a very very basic test.

$ rvm 1.9.1@rails2 $ rails new_rails2 $ cd new_rails2 $ time ./script/runner '' real 0m1.583s

$ rvm 1.9.1@rails3 $ rails new_rails3 $ cd new_rails3 $ time rails runner '' real 0m5.793s