Epigram - Finally solved the speed problem by using the following approach:

dim p as Paragraph
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for each p in p.activedocument.paragraphs
pgphRange = p.Range.test
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yadda, yadda processing contents of pgphRange ...
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Next p

Runs like lightning (8000+ lines/paragraphs in under 10 seconds!), no need to delete processed lines/paragraphs, less code, whiz-bang!

I'm such a dumb@ss for not figuring this out 3 days ago.

Thanks all for helping to point me in the right direction.