I have had great results on my test server with the new "with hashing" parameter for update index statistics...
With a fully cached table and a fully cached index the runtime was reduced by 1/3 when using the "with hashing".

YMMV
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Cory Sane
[TeamSybase]
Certified Sybase ASE 15.0 Administrator Associate
Certified Sybase ASE 15.0 SQL Developer Professional