On another important note, are you using Maya 2.5 or 3.0. Cause they have significantly increased the speed of wrap in 3.0. In 2.5, wrap was in many case unusable, ate up too much memory and too slow (this is dealing with fairly high res character).
If using wrap, definitely suggest using 3.0 instead... if thats the case. If not, then the max distance would be the way the optimize the performance.