X file loading performance

Has anyone had problems with loading X files? My RPG (http://www.darkfirerpg.com) has got some serious model loading problems. The initial call to load the .X file consumes about 100MB while its building the frame hierarchy and vertex buffers. I''m just using the straight DX9 skinned mesh load routines. The models have around 700 verticies and 500 polys. I have a separate routine to load the textures because they are segmented for different kinds of armor. There are about 25 bones and a few nulls for the IK chains. There are 8 animations with 30 frames per animations. All frames are exported because the IK is baked into the frames. So in total there are about 240 frames of animation. The .X, in text format, is about 3MB. All of the models and animations are made in lightwave and exported directly to .X. The binary format will not load, some "unknown template" error. On a decent computer with a good 3D card, the model load takes about 30 seconds. The only problem is, I have about 20 models to load... I''ve started work on my own skinned mesh exporter and loaded and am about 50% done. The hierarchical deformation of the vertex buffer is a little tricky, but its close. I''m just trying one last time to salvage my prior engine before dumping it for a proprietary solution. Any ideas?