IE Favorites mystery

My Internet Explorer 6 Favorites folder holds around 23 sub-folders and several hundred loose links.

If I use IE's 'export' facility on the Favorites, I end up with a file, 'bookmark.htm' that's 430k in size.

But if I COPY the contents of the Favorites folder to a new folder, the size of the contents is 150K. Anyone know how this difference comes about?

I thought maybe the 23 folders didn't rate when they're converted to an htm, but seeing as how one folder rates at zero bytes, even 23 of them can't be much.

Another oddity is that if I check the properties of the copied folder, it says its 'size' is 150K but that its 'size on disk' is 7.3MB.

Even stranger is that properties further describes the contents as being comprised of 1827 files and 422 folders