Test 2 (common Pentium III): with --safe-mode the 100% CPU load starts before the Safe Mode-dialog. I may repeat test 2 with a different, "slow" Pentium III (notebook with 320 MiB of RAM XOR a non-updated desktop with 768 MiB of RAM) later.
Test 2.99 (out of 4), to include an extra Pentium III M:
IBM ThinkPad T23, Pentium III Mobile, 1.2 GHz CPU, 1 GiB RAM
Expected results: perfectly usable browser, possibly excluding videos, e.g. ChatZilla is disabled because less than 100% is a serious goal.
Again no need to reply, I'm just reporting; the add-on Saved Password Editor itself displays that it's quite useless, but as such I'm not testing add-ons right now.
SM 2.35:
<Ctrl-O> 0'57"
CPU (about:blank): 1-2%
SM 2.42 r3, add-on update, langpack update, modern theme, ChatZilla disabled:
<Ctrl-O> 1'00"
CPU load (about:blank) with all add-ons you'd want to disable disabled: 4-6%, excluding all peaks
CPU load (about:blank) with enabled Adblock Plus/DownloadHelper/Saved Password Editor: 100%, slow but responsive
SM 2.42 r3_O2, add-on update, langpack update, modern theme, ChatZilla disabled:
<Ctrl-O> 0'58"
CPU load (about:blank) with all add-ons you'd want to disable disabled: 4-6%
CPU load (about:blank) with enabled Adblock Plus/DownloadHelper/Saved Password Editor: 100%, slow but responsive
SM 2.42 r3_s, add-on update, langpack update, modern theme, ChatZilla disabled:
<Ctrl-O> 0'59"
CPU load (about:blank) with all add-ons you'd want to disable disabled: 4-6%
CPU load (about:blank) with enabled Adblock Plus/DownloadHelper/Saved Password Editor: 100%, slow but responsive
Perhaps tests 3 & 4 (Pentium 4s) are almost obsolete, but I'll compare the versions anyway and a T42p comes close to a mutual benchmark (CPU load used to be close to 100% too, but not 100%, IIRC). So far r3_s still is the main candidate to win.