This paper highlights a three-year project by an interdisciplinary team on a legacy F77 computational fluid dynamics code, with the aim of demonstrating that implicit unstructured grid simulations can execute at rates not far from those of explicit structured grid codes, provided attention is paid to data motion complexity and the reuse of data positioned at the levels of the memory hierarchy closest to the processor, in addition to traditional operation count complexity. The demonstration code is from NASA and the enabling parallel hardware and (freely available) software toolkit are from DOE, but the resulting methodology should be broadly applicable, and the hardware limitations exposed should allow programmers and vendors of parallel platforms to focus with greater encouragement on sparse codes with indirect addressing. This snapshot of ongoing work shows a performance of 15 microseconds per degree of freedom to steady-state convergence of Euler flow on a mesh with 2.8 million vertices using 3072 dual-processor nodes of ASCI Red, corresponding to a sustained floating-point rate of 0.227 Tflop/s.