[eluser]gRoberts[/eluser]
As InsiteFX has said. Why "WOULD" you want to open a table with a million records?
Any developer worth their salt should know that large tables must be paged/paginated into chunks.
I've only ever come across two instances where you would "need" to process large amounts of data, in one go and in those instances, I have used a direct connection to the database using PHP, i.e. mysql_open.
CodeIgniter and ActiveRecord (IMO) has been built for the common developer who, every day, has to constantly keep on writing the same code over and over again. It's been build so that accessing single, or small result sets is made extremely easy, where normally, it would require a lot more work.
If you need to process large result sets, I would suggest using plain PHP and MySQL calls, so that CI and ActiveRecord do not consume any additional memory during the processing...