The real issue here is caching across successive queries, an effect that
Postgres doesn't deal with very well at the moment.  If you run these
queries from a standing start (freshly booted machine) you'll likely
find that the indexscan plan is indeed slower than the seqscan/hash
plan, just like the planner thinks.

Here's a little trick I learned to speed up this test.

  find / -type f -exec grep foobar {} \;

This causes massive file-system activity and flushes all files that the kernel 
has cached.  If you run this between each Postgres test (let it run for a 
couple minutes), it gives you an apples-to-apples comparison between successive 
benchmarks, and eliminates the effects of caching.

If you run this as a regular user (NOT super-user or 'postgres'), you won't 
have permission to access your Postgres files, so you're guaranteed they'll be 
flushed from the cache.

Craig

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