For those interested:
ffoo<-function(jloop){
barlist<-matrix(nr=25,nc=40)
for (jj in 1:jloop) barlist<-barlist+foolist[[jj]]
}
baradd <- function(x) Reduce("+", x)
Leads to:
Rgames> foo<-matrix(1:1000,25)
Rgames> for (jj in 1:5e5) foolist[[jj]]<-foo
Rgames> system.time(baradd(foolist))
user system elapsed
1.7 0.0 1.7
Rgames> system.time(ffoo(1e5))
user system elapsed
0.3 0.0 0.3