When git-annex merges a remote into the git-annex branch, it uses a CatFileHandle, making a query get the contents of each file in the diff. It would be faster for it to use catObjectStream. d010ab04be5a8d74fe85a2fa27a853784d1f9009 saw a 2x-16x improvement to a similar process.
Also, Database.ContentIdentifier.updateFromLog, Database.ImportFeed.updateFromLog, and Annex.RepoSize.diffBranchRepoSizes each do a similar diff and cat-file to update information cached from the git-annex branch into a database. (diffBranchRepoSizes does use catObjectStream, the others don't.)
It seems like it might be possible to make merging the git-annex branch do these updates in passing, and reduce the overhead of diff and cat-file 4x. --Joey