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I just fixed a script that was running slowly and/or crashing Firefox on very large pages, by replacing usages of $(elem).text(...); with elem.textContent = ...;
It seems .textContent is standard (DOM Level 3) and fairly well supported, apart from in IE<9. Maybe jQuery.text should indirect to .textContent when it's present? Their behaviour is the same, as far as I can tell (except for when a function is passed instead of a string).