Running Dynamics CRM 2011 rollout 3. Need to update millions of customer records periodically (delta updates). Using standard update (one by one) takes a few weeks. Also we don\
I worked on a very large data migration project for Dynamics CRM 2011. We needed to load about 3 million records over a weekend. I ended up building a console application (single thread) and ran multiple instances on multiple machines. Each console application had an id (1, 2, etc.) and was responsible for loading segments of the data based on a unique SQL WHERE clause that matched the application's id.
You could do the same thing with updates. Each instance could query a subset of the records to update and can perform the updates via the SDK. Since we loaded millions of records over a weekend I think you could perform millions of updates (if relatively small) in just a few hours.