Upload & Sell: On
I also build 1:1 previews on import.
Even on an i7 with 27 GB of RAM, a good graphics card (GTX 560 with 2GB DDR5), SSD's, and RAID 0, it takes quite a bit of time. So I separate the import & editing process.
The way I edit in LR is the same way that I used to edit in Breeze Browser for 10+ years.
After the renders are built, I do an "Impromptu Slide Show." You can set the default Slide Show Template to use for this under the "Slide Show" menu.
I set mine to 3.5 seconds, .2 seconds transition.
I watch the slide show 3 times to do an edit:
1) I watch all images and usually only rate the absolute best, "5" star. But the goal is just to look, not rate.
2) I watch the slide show again, and try to rate every image. A "1" or a "2" means the image is not worth looking at again.
A "3" will get reviewed, but nothing special. The "4" and "5" stars are the keepers, depending on whether I am sharing the top 8 images (5), or top 20 (4&5) out of, say, 100 images.
3) I look through the 5, and bump down if necessary. I look through the 4, and bump up or down. Then I look through the 3, and again bump up or down.
The 3 passes do not take too long, depending on the number of images maybe 1/2 hour.
I like to do "standard workflows" like that for my all of my editing.
I used to type up all of my steps as a guide at the computer. Now that I am getting settled in to LR 4 and just rebuilt my computer, I will type those up again for myself (the whole process, just so I don't keep changing things on a whim.)