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