As suggested by @laanwj on IRC:
0<cfields> whoa
1<cfields> Leaving test case "knapsack_solver_test"; testing time: 358694ms
2<cfields> i386 + old wine ^^
3<cfields> Leaving test case "knapsack_solver_test"; testing time: 6781ms
4<cfields> ^^ same, but with the LogPrint commented out
5...
6<wumpus> if both log-to-file and log-to-console is disabled, it should probably bypass all logging
Edit: The painful line commented out being the LogPrintf in CWallet::AddToWallet.