XCode has brought many great features, but some features can get in the way. If you want to speed up the time it takes for a new project to index, read the link below!! –zootbobbalu

file:///Developer/Extras/Xcode%20Index%20Templates/Index%20Templates%20ReadMe.rtf

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Sadly that file seems to be missing on my system:

[5:46][~]> ls -al /Developer/Extras/ total 0 drwxrwxr-x 3 root admin 102 17 Oct 15:09 . drwxrwxr-x 13 root admin 442 5 Nov 01:39 .. drwxrwxr-x 4 root admin 136 17 Oct 15:09 Palettes

Maybe it comes with Xcode 1.1? installing ATM…

later… ahh… now I see the file! :)

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It seems strange that such a potentially useful feature is disabled by default. Hopefully Apple can automate this type of setup in the next Xcode Tools release.