I totally understand not wanting to run extra stuff on your empeg, even in light of what I'm about to say, but I just want to make sure that you understand that preinit doesn't reside in memory. It just finds stuff to execute and then exits, calling the normal init process (unless you use the blocking feature, in which case it resides in memory until the blocking script has exited, or if you use the mounttime feature, in which case it resides in memory until the music partitions are mounted -- no more than a couple of seconds). So no more memory is used if you use it than if you didn't. It just adds a fraction of a section to startup time.
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Bitt Faulk