$ time __git_ps1
((v2.6.33.4))
real 0m1.467s
user 0m0.864s
sys 0m0.564s
It\'s making my prompt unusable; on the other hand, though, it\'s too us
It turned out to be a combination of two things:
I was using
export GIT_PS1_SHOWDIRTYSTATE=true
export GIT_PS1_SHOWUNTRACKEDFILES=true
by default. which proved to be unusable on a tree the size of the kernel. Removing these options removes a bit of nice functionality from __git_ps1, but at least it returns instantly now. (Useful lesson - try out stuff from a freshly created user account before anything else.)
Also, the hard disk on my work machine is just plain slow, so that wasn't a git problem per se; it's just the first time it really obtruded itself upon my notice.