Gulp + Webpack + React is SLOW

bootstrap.jsx

/**
 * @jsx React.DOM
 */

var React   = require('react');
var Router  = require('react-router');

var Routes        = Router.Routes;
var Route         = Router.Route;
var DefaultRoute  = Router.DefaultRoute;

var App     = require('./app.jsx');
var Home    = require('./home/home.jsx');
var School  = require('./schools/school.jsx');
var Schools = require('./schools/schools.jsx');

React.renderComponent((
  <Routes location="hash" handler={App}>
    <DefaultRoute handler={Home} />
    <Route path="/schools" name="schools" handler={Schools} />
    <Route path="/schools/:schoolId" name="school" handler={School} />
  </Routes>
), document.body);

gulpfile.js

// snip

gulp.task('webpack', function() {
  return gulp
    .src('app/scripts/bootstrap.jsx')
    .pipe($.webpack({
      cache: {},
      // devtool: 'inline-source-map',
      // entry: {
      //   bootstrap: './app/scripts/bootstrap.jsx',
      //   vendors: './app/scripts/vendors.js',
      // },
      module: {
        loaders: [
          { test: /\.jsx?$/, loader: 'jsx' }
        ],
      },
      output: {
        filename: '[name].bundle.js',
        chunkFilename: '[id].bundle.js',
      },
      plugins: [
        // new webpack.optimize.CommonsChunkPlugin('common.bundle.js')
      ],
      resolve: {
        modulesDirectories: ['bower_components', 'node_modules'],
      },
    }, webpack))
    .pipe(gulp.dest('app/build'))
  ;
});

output.txt

  gulp webpack
[13:29:01] Using gulpfile ~/Projects/ericclemmons/AdminMVC/react/gulpfile.js
[13:29:01] Starting 'webpack'...
[13:29:03] Version: webpack 1.4.4
         Asset    Size  Chunks             Chunk Names
main.bundle.js  790039       0  [emitted]  main
[13:29:03] Finished 'webpack' after 1.9 s