Using repeated dates causes node to crash

I'm using the latest RC versions of Date, Calendar, Views, and CCK. PHP 5.2.

I have an event node that repeats every week. In previous versions, the node content would be something like this:

Repeats every Sunday from 9:30am to 10:30am until 2008/12/31

This is the rest of the content

Now it shows every repeating date like so:

2008-01-06 09:30 - 10:30
2008-01-13 09:30 - 10:30
2008-01-20 09:30 - 10:30
2008-01-27 09:30 - 10:30
2008-02-03 09:30 - 10:30
2008-02-10 09:30 - 10:30 
...
This is the rest of the content

This makes the content really ugly, and in cases where nodes repeat until 2050, it crashes when trying to load the node (out of memory error). Did I miss something when setting up the field or is this a bug?

Export:

$content[type]  = array (
  'name' => 'Event',
  'type' => 'event',
  'description' => 'Use the <i>event</i> type when creating an event to be displayed on a calendar.',
  'title_label' => 'Title',
  'body_label' => 'Body',
  'min_word_count' => '0',
  'help' => '',
  'node_options' => 
  array (
    'status' => true,
    'promote' => false,
    'sticky' => false,
    'revision' => false,
  ),
  'language_content_type' => '0',
  'upload' => '1',
  'old_type' => 'event',
  'orig_type' => '',
  'module' => 'node',
  'custom' => '1',
  'modified' => '1',
  'locked' => '0',
  'image_attach' => '0',
  'image_attach_size_teaser' => 'thumbnail',
  'image_attach_weight_teaser' => '0',
  'image_attach_size_body' => 'thumbnail',
  'image_attach_weight_body' => '0',
);
$content[fields]  = array (
  0 => 
  array (
    'label' => 'Date',
    'field_name' => 'field_start',
    'type' => 'datetime',
    'widget_type' => 'date_popup',
    'change' => 'Change basic information',
    'weight' => '-4',
    'default_value' => 'now',
    'default_value_code' => '',
    'default_value2' => 'same',
    'default_value_code2' => '',
    'input_format' => 'Y/m/d - g:ia',
    'input_format_custom' => '',
    'year_range' => '-3:+3',
    'increment' => '15',
    'advanced' => 
    array (
      'label_position' => 'above',
      'text_parts' => 
      array (
        'year' => 0,
        'month' => 0,
        'day' => 0,
        'hour' => 0,
        'minute' => 0,
        'second' => 0,
      ),
    ),
    'label_position' => 'above',
    'text_parts' => 
    array (
    ),
    'description' => '',
    'group' => false,
    'required' => 1,
    'multiple' => '1',
    'repeat' => 0,
    'todate' => 'optional',
    'granularity' => 
    array (
      'year' => 'year',
      'month' => 'month',
      'day' => 'day',
      'hour' => 'hour',
      'minute' => 'minute',
    ),
    'output_format_date' => 'Y-m-d H:i',
    'output_format_custom' => '',
    'output_format_date_long' => 'l, F j, Y - H:i',
    'output_format_custom_long' => '',
    'output_format_date_medium' => 'D, Y-m-d H:i',
    'output_format_custom_medium' => '',
    'output_format_date_short' => 'Y-m-d H:i',
    'output_format_custom_short' => '',
    'tz_handling' => 'none',
    'timezone_db' => 'UTC',
    'repeat_collapsed' => '1',
    'op' => 'Save field settings',
    'module' => 'date',
    'widget_module' => 'date',
    'columns' => 
    array (
      'value' => 
      array (
        'type' => 'datetime',
        'not null' => false,
        'sortable' => true,
      ),
      'value2' => 
      array (
        'type' => 'datetime',
        'not null' => false,
        'sortable' => true,
      ),
      'rrule' => 
      array (
        'type' => 'text',
        'not null' => false,
        'sortable' => false,
      ),
    ),
    'display_settings' => 
    array (
      'label' => 
      array (
        'format' => 'hidden',
      ),
      'teaser' => 
      array (
        'format' => 'short',
      ),
      'full' => 
      array (
        'format' => 'short',
      ),
      4 => 
      array (
        'format' => 'default',
      ),
      2 => 
      array (
        'format' => 'default',
      ),
      3 => 
      array (
        'format' => 'default',
      ),
    ),
  ),
);