Does Windows ME have a HOSTS file? Remember this isn't Windows NT. Microsoft Windows 2000 is just Windows NT version 5.0 with a fancy name, Windows XP is Windows NT 5.1, Windows Vista is Windows NT version 6.0, and Windows 7 is Windows NT version 7.0. But Windows ME is part of the Windows 9x series.
I created a short-cut (Windows version of a symbolic link) called HOSTS, linked to LMHOSTS. I tried the same web page but found no difference in load times at all.
My initial test was with a web page that I often visit, so there is no cache difference between any of the tests.
I restarted my computer in case Windows was loading the HOSTS file into memory, tried the same test and found no difference either.
Rob Dyck