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Well... going by the concept it's pretty obvious that this addon will use a fair amount of CPU time. It will also increase CPU time used by other addons quite heavily. The increased accuracy does have a price. The more addons you have that deal with health, the higher the performance impact will be.
Generally, if you're concerned about FPS, you should avoid addons listening to the combatlog like the plague, as they tend to process a lot of information many times a second.
Other than that, very nice work here. Just a few minor things to iron out but overall it works quite good.
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