Update... sort of....
Even though my iPhoto library was only 68GB, I decided to make it into two 34+GB iPhoto libraries, since the 68GB one was taking forever and kept crashing, even after I had turned off the 'energy save' limtes.
But, it appears that the size of the Library is not an issue. I have been running iPhoto Manager (4.0.4) for over well 12 hours now and it has only 'rebuilt' less then half the library.
At first it was running very quickly, and it appeared that things would be rebuilt within a few hours. Then it REALLY slowed down.
Now, in addition to just running slowly, it keeps locking up when iPhoto doesn't want to close. I get a warning box, telling me that iPhoto failed to close... and if I happen to notice, all I have to do is click, 'Try Again' and it starts back to slowly rebuilding.
I know if it ever actually manages to finish, the problem (with moving Albums by hand) will be fixed, it's just that at this rate, it will take days, if it ever finishes. In my previous attempts, when it crashed, the portion of the Library that did manage to be rebuilt, worked fine. I just have to hope that I can get it to finish rebuilding the entire Library.
I have pretty much shut down everything else on my computer, and it's a realitively new iMac, so I'm not sure why it is taking so long.
I did get a message last night that there is an upgrade for iPhoto Manager (4.0.5)... but I'll have to wait for this current rebuild to either finish or CRASH, before I do the upgrade.
So, that's where I am now. I just have to check my computer every few minutes to make sure it hasn't stopped the rebuild because iPhoto failed to close. (which is a problem I have, when just using iPhoto... about half the time it takes a very long time to actually close, once I've told it to close. More often then not, I have to use 'Force Close' to get it to actually close.
More to come as things progress... assuming that they do contuinue to progress!