A variant approach to the overlap action
  I describe an implementation of the overlap action, which is built from an action which is itself an approximate overlap action. It appears to be about a factor of 15-20 less expensive to use, than the usual overlap action with the Wilson fermion action as its kernel. Ingredients include a fat link to suppress coupling to dislocations and a free field action with a spectrum which resembles an overlap; much of the gain comes from the use of eigenmodes of the approximate action to begin the overlap calculation. As a physics example, I compute the quark condensate in finite volume in the quenched approximation. 
Thomas DeGrand (MILC collaboration)