Incremental Progress Report object/closure?

[Terrence Brannon]

'lo all, I'm looking for something that gives feedback to the screen
every X iterations, reporting

Time elapsed:  0:00:00   X,XXX,XXX records done. speed XXXX/second.
[Action Label]


Such a thingy is useful when one is cranking away at million record
flat files and one wants to provide feedback to the user lest he bash
away at the interrupt key in fear of his machine being locked up.

All the best mates,
-- meta