There are millions and millions of files and links. Each "identical" file on a subsequent backup is a hard link. We track them all, to files and folders, and reproduce them properly on the copy.
It takes along time. 5.8 million is totally normal...and does not suggest 3 versions. Quite the opposite.
I don't know why Finder is slow, because I don't know what it's doing (although I believe it "unrolls" all the links). We're slow because of all the bookkeeping...of which there's a ton, along with the file I/O necessary.
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--Dave Nanian
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