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With hardfloat Java on Raspberry Pi, Processing runs quite quickly. I've developed and tested an installation procedure for Processing 2.1 on Raspbian: Processing 2.1 + Oracle Java + Raspberry Pi + Serial + Arduino = ☺
(the hard part was working out that I needed to replace Processing's cut-down jssc.jar with the stock one, which includes armhf drivers.)
I haven't been able to do anything about the graphics and video issues other people are having. Firmata integration is more important to me.