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It actually scales very well, as long as you're using a proper output stream and nor cStringIO or something like that. It emits as it goes and holds very little state.
As for back-tracking, that sounds very contradictory to your ned for scalablity: backtracking requires maintaining stte, which makes it non-scalable. But to answer your question anyway, backtracking is not very easy using this techique.
--Uche
http://uche.ogbuji.net
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