diff --git a/src/Jamfile.v2 b/src/Jamfile.v2
index eaa4610..9372559 100644
--- a/src/Jamfile.v2
+++ b/src/Jamfile.v2
@@ -26,6 +26,7 @@ exe quickbook
     doc_info_actions.cpp
     actions_class.cpp
     utils.cpp
+    files.cpp
     string_ref.cpp
     input_path.cpp
     values.cpp
diff --git a/src/actions.cpp b/src/actions.cpp
index 114f07b..bde3a9c 100644
--- a/src/actions.cpp
+++ b/src/actions.cpp
@@ -23,6 +23,7 @@
 #include "quickbook.hpp"
 #include "actions.hpp"
 #include "utils.hpp"
+#include "files.hpp"
 #include "markups.hpp"
 #include "actions_class.hpp"
 #include "actions_state.hpp"
@@ -69,7 +70,7 @@ namespace quickbook
     void explicit_list_action(quickbook::actions&, value);
     void header_action(quickbook::actions&, value);
     void begin_section_action(quickbook::actions&, value);
-    void end_section_action(quickbook::actions&, value, file_position);
+    void end_section_action(quickbook::actions&, value, string_iterator);
     void block_action(quickbook::actions&, value);
     void block_empty_action(quickbook::actions&, value);
     void macro_definition_action(quickbook::actions&, value);
@@ -77,7 +78,7 @@ namespace quickbook
     void variable_list_action(quickbook::actions&, value);
     void table_action(quickbook::actions&, value);
     void xinclude_action(quickbook::actions&, value);
-    void include_action(quickbook::actions&, value, file_position);
+    void include_action(quickbook::actions&, value, string_iterator);
     void image_action(quickbook::actions&, value);
     void anchor_action(quickbook::actions&, value);
     void link_action(quickbook::actions&, value);
@@ -85,9 +86,9 @@ namespace quickbook
     void footnote_action(quickbook::actions&, value);
     void raw_phrase_action(quickbook::actions&, value);
     void source_mode_action(quickbook::actions&, value);
-    void do_template_action(quickbook::actions&, value, file_position);
+    void do_template_action(quickbook::actions&, value, string_iterator);
     
-    void element_action::operator()(iterator first, iterator) const
+    void element_action::operator()(parse_iterator first, parse_iterator) const
     {
         value_consumer values = actions.values.release();
         if(!values.check() || !actions.conditional) return;
@@ -112,7 +113,7 @@ namespace quickbook
         case block_tags::begin_section:
             return begin_section_action(actions, v);
         case block_tags::end_section:
-            return end_section_action(actions, v, first.get_position());
+            return end_section_action(actions, v, first.base());
         case block_tags::blurb:
         case block_tags::preformatted:
         case block_tags::blockquote:
@@ -136,7 +137,7 @@ namespace quickbook
             return xinclude_action(actions, v);
         case block_tags::import:
         case block_tags::include:
-            return include_action(actions, v, first.get_position());
+            return include_action(actions, v, first.base());
         case phrase_tags::image:
             return image_action(actions, v);
         case phrase_tags::anchor:
@@ -169,28 +170,27 @@ namespace quickbook
         case source_mode_tags::teletype:
             return source_mode_action(actions, v);
         case template_tags::template_:
-            return do_template_action(actions, v, first.get_position());
+            return do_template_action(actions, v, first.base());
         default:
             break;
         }
     }
 
     // Handles line-breaks (DEPRECATED!!!)
-    void break_action::operator()(iterator first, iterator) const
+    void break_action::operator()(parse_iterator first, parse_iterator) const
     {
         write_anchors(actions, phrase);
 
-        file_position const pos = first.get_position();
         if(*first == '\\')
         {
-            detail::outwarn(actions.filename, pos.line)
-                << "in column:" << pos.column << ", "
+            detail::outwarn(actions.current_file, first.base())
+                //<< "in column:" << pos.column << ", "
                 << "'\\n' is deprecated, pleases use '[br]' instead" << ".\n";
         }
 
         if(!actions.warned_about_breaks)
         {
-            detail::outwarn(actions.filename, pos.line)
+            detail::outwarn(actions.current_file, first.base())
                 << "line breaks generate invalid boostbook "
                    "(will only note first occurrence).\n";
 
@@ -200,9 +200,9 @@ namespace quickbook
         phrase << detail::get_markup(phrase_tags::break_mark).pre;
     }
 
-    void error_message_action::operator()(iterator first, iterator last) const
+    void error_message_action::operator()(parse_iterator first, parse_iterator last) const
     {
-        file_position const pos = first.get_position();
+        file_position const pos = get_position(first, actions.current_file->source);
 
         std::string value(first, last);
         std::string formatted_message = message;
@@ -210,15 +210,16 @@ namespace quickbook
         boost::replace_all(formatted_message, "%c",
             boost::lexical_cast<std::string>(pos.column));
 
-        detail::outerr(actions.filename, pos.line)
+        detail::outerr(actions.current_file->path, pos.line)
             << detail::utf8(formatted_message) << std::endl;
         ++actions.error_count;
     }
 
-    void error_action::operator()(iterator first, iterator /*last*/) const
+    void error_action::operator()(parse_iterator first, parse_iterator /*last*/) const
     {
-        file_position const pos = first.get_position();
-        detail::outerr(actions.filename, pos.line)
+        file_position const pos = get_position(first, actions.current_file->source);
+
+        detail::outerr(actions.current_file->path, pos.line)
             << "Syntax Error near column " << pos.column << ".\n";
         ++actions.error_count;
     }
@@ -413,8 +414,10 @@ namespace quickbook
 
         if (saved_conditional)
         {
-            actions.conditional =
-                find(actions.macro, values.consume().get_quickbook().c_str());
+            string_ref macro1 = values.consume().get_quickbook();
+            std::string macro(macro1.begin(), macro1.end());
+
+            actions.conditional = find(actions.macro, macro.c_str());
 
             if (!actions.conditional) {
                 actions.phrase.push();
@@ -473,7 +476,7 @@ namespace quickbook
             std::string content = values.consume().get_boostbook();
             values.finish();
 
-            char mark = mark_value.get_quickbook()[0];
+            char mark = *mark_value.get_quickbook().begin();
             assert(mark == '*' || mark == '#');
 
             if(list_indent == -1) {
@@ -508,10 +511,9 @@ namespace quickbook
 
             if (mark != list_marks.top().first) // new_indent == list_indent
             {
-                file_position const pos = mark_value.get_position();
-                detail::outerr(actions.filename, pos.line)
-                    << "Illegal change of list style near column " << pos.column << ".\n";
-                detail::outwarn(actions.filename, pos.line)
+                detail::outerr(mark_value.get_file(), mark_value.get_position())
+                    << "Illegal change of list style.\n";
+                detail::outwarn(mark_value.get_file(), mark_value.get_position())
                     << "Ignoring change of list style" << std::endl;
                 ++actions.error_count;
             }
@@ -550,7 +552,7 @@ namespace quickbook
 
     // TODO: No need to check suppress since this is only used in the syntax
     //       highlighter. I should move this or something.
-    void span::operator()(iterator first, iterator last) const
+    void span::operator()(parse_iterator first, parse_iterator last) const
     {
         if (name) out << "<phrase role=\"" << name << "\">";
         while (first != last)
@@ -558,25 +560,25 @@ namespace quickbook
         if (name) out << "</phrase>";
     }
 
-    void span_start::operator()(iterator first, iterator last) const
+    void span_start::operator()(parse_iterator first, parse_iterator last) const
     {
         out << "<phrase role=\"" << name << "\">";
         while (first != last)
             detail::print_char(*first++, out.get());
     }
 
-    void span_end::operator()(iterator first, iterator last) const
+    void span_end::operator()(parse_iterator first, parse_iterator last) const
     {
         while (first != last)
             detail::print_char(*first++, out.get());
         out << "</phrase>";
     }
 
-    void unexpected_char::operator()(iterator first, iterator last) const
+    void unexpected_char::operator()(parse_iterator first, parse_iterator last) const
     {
-        file_position const pos = first.get_position();
+        file_position const pos = get_position(first, actions.current_file->source);
 
-        detail::outwarn(actions.filename, pos.line)
+        detail::outwarn(actions.current_file->path, pos.line)
             << "in column:" << pos.column
             << ", unexpected character: " << detail::utf8(first, last)
             << "\n";
@@ -622,18 +624,18 @@ namespace quickbook
         detail::print_space(ch, out.get());
     }
 
-    void space::operator()(iterator first, iterator last) const
+    void space::operator()(parse_iterator first, parse_iterator last) const
     {
         while (first != last)
             detail::print_space(*first++, out.get());
     }
 
-    void pre_escape_back::operator()(iterator, iterator) const
+    void pre_escape_back::operator()(parse_iterator, parse_iterator) const
     {
         escape_actions.phrase.push(); // save the stream
     }
 
-    void post_escape_back::operator()(iterator, iterator) const
+    void post_escape_back::operator()(parse_iterator, parse_iterator) const
     {
         write_anchors(escape_actions, escape_actions.phrase);
         out << escape_actions.phrase.str();
@@ -645,7 +647,7 @@ namespace quickbook
         actions.source_mode = source_mode_tags::name(source_mode.get_tag());
     }
 
-    void code_action::operator()(iterator first, iterator last) const
+    void code_action::operator()(parse_iterator first, parse_iterator last) const
     {
         write_anchors(actions, out);
 
@@ -655,8 +657,16 @@ namespace quickbook
         if (program.size() == 0)
             return; // Nothing left to do here. The program is empty.
 
-        iterator first_(program.begin(), first.get_position());
-        iterator last_(program.end());
+        file fake_file;
+
+        fake_file.path = actions.current_file->path;
+        fake_file.source = program;
+
+        parse_iterator first_(fake_file.source.begin());
+        parse_iterator last_(fake_file.source.end());
+
+        file const* saved_file = &fake_file;
+        boost::swap(actions.current_file, saved_file);
 
         // TODO: Shouldn't phrase be empty here? Why would it be output
         // after the code block?
@@ -667,6 +677,7 @@ namespace quickbook
         std::string str = syntax_highlight(first_, last_, actions, actions.source_mode);
 
         phrase.swap(save);
+        boost::swap(actions.current_file, saved_file);
 
         //
         // We must not place a \n after the <programlisting> tag
@@ -677,7 +688,7 @@ namespace quickbook
         out << "</programlisting>\n";
     }
 
-    void inline_code_action::operator()(iterator first, iterator last) const
+    void inline_code_action::operator()(parse_iterator first, parse_iterator last) const
     {
         write_anchors(actions, out);
 
@@ -701,14 +712,14 @@ namespace quickbook
         detail::print_char(ch, phrase.get());
     }
 
-    void plain_char_action::operator()(iterator first, iterator /*last*/) const
+    void plain_char_action::operator()(parse_iterator first, parse_iterator /*last*/) const
     {
         write_anchors(actions, phrase);
 
         detail::print_char(*first, phrase.get());
     }
 
-    void escape_unicode_action::operator()(iterator first, iterator last) const
+    void escape_unicode_action::operator()(parse_iterator first, parse_iterator last) const
     {
         write_anchors(actions, phrase);
 
@@ -747,7 +758,7 @@ namespace quickbook
             pair.finish();
             if(!attributes.insert(std::make_pair(name.get_quickbook(), value)).second)
             {
-                detail::outwarn(actions.filename, name.get_position().line)
+                detail::outwarn(name.get_file(), name.get_position())
                     << "Duplicate image attribute: "
                     << detail::utf8(name.get_quickbook())
                     << std::endl;
@@ -768,7 +779,7 @@ namespace quickbook
 
         if(fileref.find('\\') != std::string::npos)
         {
-            detail::outwarn(actions.filename, attributes["fileref"].get_position().line)
+            detail::outwarn(attributes["fileref"].get_file(), attributes["fileref"].get_position())
                 << "Image path isn't portable: '"
                 << detail::utf8(fileref)
                 << "'"
@@ -952,11 +963,9 @@ namespace quickbook
                 identifier,
                 template_values,
                 body,
-                actions.filename,
                 &actions.templates.top_scope())))
         {
-            file_position const pos = body.get_position();
-            detail::outerr(actions.filename, pos.line)
+            detail::outwarn(body.get_file(), body.get_position())
                 << "Template Redefinition: " << detail::utf8(identifier) << std::endl;
             ++actions.error_count;
         }
@@ -964,7 +973,7 @@ namespace quickbook
 
     namespace
     {
-        iterator find_first_seperator(iterator begin, iterator end)
+        string_iterator find_first_seperator(string_iterator begin, string_iterator end)
         {
             if(qbk_version_n < 105) {
                 for(;begin != end; ++begin)
@@ -1011,9 +1020,9 @@ namespace quickbook
             return begin;
         }
         
-        std::pair<iterator, iterator> find_seperator(iterator begin, iterator end)
+        std::pair<string_iterator, string_iterator> find_seperator(string_iterator begin, string_iterator end)
         {
-            iterator first = begin = find_first_seperator(begin, end);
+            string_iterator first = begin = find_first_seperator(begin, end);
 
             for(;begin != end; ++begin)
             {
@@ -1032,11 +1041,10 @@ namespace quickbook
             return std::make_pair(first, begin);
         }
     
-        bool break_arguments(
+        void break_arguments(
             std::vector<template_body>& args
           , std::vector<std::string> const& params
           , fs::path const& filename
-          , file_position const& pos
         )
         {
             // Quickbook 1.4-: If there aren't enough parameters seperated by
@@ -1057,34 +1065,23 @@ namespace quickbook
                     // arguments, or if there are no more spaces left.
 
                     template_body& body = args.back();
-                    iterator begin = body.content.get_quickbook_range().begin();
-                    iterator end = body.content.get_quickbook_range().end();
+                    string_iterator begin = body.content.get_quickbook().begin();
+                    string_iterator end = body.content.get_quickbook().end();
                     
-                    std::pair<iterator, iterator> pos =
+                    std::pair<string_iterator, string_iterator> pos =
                         find_seperator(begin, end);
                     if (pos.second == end) break;
                     template_body second(
-                        qbk_value(pos.second, end, template_tags::phrase),
-                        body.filename);
+                        qbk_value_ref(body.content.get_file(),
+                            pos.second, end, template_tags::phrase));
     
-                    body.content = qbk_value(begin, pos.first,
-                        body.content.get_tag());
+                    // TODO: Make sure that this is overwriting a reference, not
+                    // a value.
+                    body.content = qbk_value_ref(body.content.get_file(),
+                        begin, pos.first, body.content.get_tag());
                     args.push_back(second);
                 }
             }
-
-            if (args.size() != params.size())
-            {
-                detail::outerr(filename, pos.line)
-                    << "Invalid number of arguments passed. Expecting: "
-                    << params.size()
-                    << " argument(s), got: "
-                    << args.size()
-                    << " argument(s) instead."
-                    << std::endl;
-                return false;
-            }
-            return true;
         }
 
         std::pair<bool, std::vector<std::string>::const_iterator>
@@ -1092,7 +1089,7 @@ namespace quickbook
             std::vector<template_body> const& args
           , std::vector<std::string> const& params
           , template_scope const& scope
-          , file_position const& pos
+          , string_iterator first
           , quickbook::actions& actions
         )
         {
@@ -1106,7 +1103,7 @@ namespace quickbook
                 if (!actions.templates.add(
                         template_symbol(*tpl, empty_params, *arg, &scope)))
                 {
-                    detail::outerr(actions.filename, pos.line)
+                    detail::outerr(actions.current_file, first)
                         << "Duplicate Symbol Found" << std::endl;
                     ++actions.error_count;
                     return std::make_pair(false, tpl);
@@ -1122,32 +1119,38 @@ namespace quickbook
           , quickbook::actions& actions
         )
         {
-            // How do we know if we are to parse the template as a block or
-            // a phrase? We apply a simple heuristic: if the body starts with
-            // a newline, then we regard it as a block, otherwise, we parse
-            // it as a phrase.
-            //
-            // Note: this is now done in the grammar.
-
-            // TODO: For escape, should this be surrounded in escape comments?
-            if (body.type == template_body::raw_output || escape)
+            if (escape)
             {
+                // TODO: Should this be surrounded in escape comments?
                 //  escape the body of the template
                 //  we just copy out the literal body
                 (body.is_block() ? actions.out : actions.phrase) << body.content.get_quickbook();
                 return true;
             }
+            else if (body.type == template_body::raw_output)
+            {
+                (body.is_block() ? actions.out : actions.phrase) << body.content.get_boostbook();
+                return true;
+            }
             else
             {
-                actions.filename = body.filename;
-                iterator first = body.content.get_quickbook_range().begin();
-                iterator last = body.content.get_quickbook_range().end();
-                    
-                return cl::parse(first, last,
+                file const* saved_current_file = actions.current_file;
+
+                actions.current_file = body.content.get_file();
+                string_ref source = body.content.get_quickbook();
+
+                parse_iterator first(source.begin());
+                parse_iterator last(source.end());
+
+                bool r = cl::parse(first, last,
                         body.is_block() ?
                             actions.grammar().block :
                             actions.grammar().simple_phrase
                     ).full;
+
+                boost::swap(actions.current_file, saved_current_file);
+
+                return r;
             }
         }
     }
@@ -1155,7 +1158,7 @@ namespace quickbook
     void call_template(quickbook::actions& actions, bool template_escape,
             template_symbol const* symbol,
             std::vector<template_body> const& args,
-            file_position pos)
+            string_iterator first)
     {
         // The template arguments should have the scope that the template was
         // called from, not the template's own scope.
@@ -1173,7 +1176,7 @@ namespace quickbook
             ++actions.template_depth;
             if (actions.template_depth > actions.max_template_depth)
             {
-                detail::outerr(actions.filename, pos.line)
+                detail::outerr(actions.current_file, first)
                     << "Infinite loop detected" << std::endl;
                 ++actions.error_count;
                 return;
@@ -1195,18 +1198,19 @@ namespace quickbook
             bool get_arg_result;
             std::vector<std::string>::const_iterator tpl;
             boost::tie(get_arg_result, tpl) =
-                get_arguments(args, symbol->params, call_scope, pos, actions);
+                get_arguments(args, symbol->params, call_scope, first, actions);
 
             if (!get_arg_result)
             {
                 return;
             }
+
             ///////////////////////////////////
             // parse the template body:
 
             if (!parse_template(symbol->body, template_escape, actions))
             {
-                detail::outerr(actions.filename, pos.line)
+                detail::outerr(actions.current_file, first)
                     << "Expanding "
                     << (symbol->body.is_block() ? "block" : "phrase")
                     << " template: " << detail::utf8(symbol->identifier) << std::endl
@@ -1221,7 +1225,7 @@ namespace quickbook
 
             if (actions.ids.section_level() != actions.min_section_level)
             {
-                detail::outerr(actions.filename, pos.line)
+                detail::outerr(actions.current_file, first)
                     << "Mismatched sections in template "
                     << detail::utf8(symbol->identifier)
                     << std::endl;
@@ -1247,8 +1251,8 @@ namespace quickbook
     void call_code_snippet(quickbook::actions& actions,
             bool template_escape,
             template_symbol const* symbol,
-            file_position pos)
-    {    
+            string_iterator first)
+    {
         assert(symbol->body.is_block());
 
         std::vector<std::string> callout_ids;
@@ -1266,13 +1270,13 @@ namespace quickbook
             code += "linkends=\"" + callout_id2 + "\" />";
 
             args.push_back(template_body(
-                qbk_value(code, pos, template_tags::phrase),
-                actions.filename, template_body::raw_output));
+                bbk_value(code, template_tags::phrase),
+                template_body::raw_output));
             callout_ids.push_back(callout_id1);
             callout_ids.push_back(callout_id2);
         }
-        
-        call_template(actions, template_escape, symbol, args, pos);
+
+        call_template(actions, template_escape, symbol, args, first);
 
         std::string block;
 
@@ -1291,11 +1295,11 @@ namespace quickbook
                     ++actions.template_depth;
 
                     bool r = parse_template(
-                        template_body(c, symbol->body.filename), false, actions);
-    
+                        template_body(c), false, actions);
+
                     if(!r)
                     {
-                        detail::outerr(symbol->body.filename, c.get_position().line)
+                        detail::outerr(c.get_file(), c.get_position())
                             << "Expanding callout." << std::endl
                             << "------------------begin------------------" << std::endl
                             << detail::utf8(c.get_quickbook())
@@ -1321,7 +1325,7 @@ namespace quickbook
     }
 
     void do_template_action(quickbook::actions& actions, value template_list,
-            file_position pos)
+            string_iterator first)
     {
         // Get the arguments
         value_consumer values = template_list;
@@ -1336,7 +1340,7 @@ namespace quickbook
 
         BOOST_FOREACH(value arg, values)
         {
-            args.push_back(template_body(arg, actions.filename));
+            args.push_back(template_body(arg));
         }
         
         values.finish();
@@ -1350,29 +1354,39 @@ namespace quickbook
         if (!symbol->callouts.check())
         {
             // Break the arguments for a template
-        
-            if (!break_arguments(args, symbol->params, actions.filename, pos))
+
+            break_arguments(args, symbol->params, actions.current_file->path);
+
+            if (args.size() != symbol->params.size())
             {
+                detail::outerr(actions.current_file, first)
+                    << "Invalid number of arguments passed. Expecting: "
+                    << symbol->params.size()
+                    << " argument(s), got: "
+                    << args.size()
+                    << " argument(s) instead."
+                    << std::endl;
+
                 ++actions.error_count;
                 return;
             }
 
-            call_template(actions, template_escape, symbol, args, pos);
+            call_template(actions, template_escape, symbol, args, first);
         }
         else
         {
             if (!args.empty())
             {
-                detail::outerr(actions.filename, pos.line)
+                detail::outerr(actions.current_file, first)
                     << "Arguments for code snippet."
                     <<std::endl;
                 ++actions.error_count;
 
                 args.clear();
             }
-            
-            call_code_snippet(actions, template_escape, symbol, pos);
-        }        
+
+            call_code_snippet(actions, template_escape, symbol, first);
+        }
     }
 
     void link_action(quickbook::actions& actions, value link)
@@ -1563,13 +1577,15 @@ namespace quickbook
         actions.out << "</title>\n";
     }
 
-    void end_section_action(quickbook::actions& actions, value end_section, file_position pos)
+    void end_section_action(quickbook::actions& actions, value end_section, string_iterator first)
     {
         write_anchors(actions, actions.out);
 
         if (actions.ids.section_level() <= actions.min_section_level)
         {
-            detail::outerr(actions.filename, pos.line)
+            file_position const pos = get_position(first, actions.current_file->source);
+
+            detail::outerr(actions.current_file->path, pos.line)
                 << "Mismatched [endsect] near column " << pos.column << ".\n";
             ++actions.error_count;
             
@@ -1580,10 +1596,9 @@ namespace quickbook
         actions.ids.end_section();
     }
     
-    void element_id_warning_action::operator()(iterator first, iterator) const
+    void element_id_warning_action::operator()(parse_iterator first, parse_iterator) const
     {
-        file_position const pos = first.get_position();
-        detail::outwarn(actions.filename, pos.line) << "Empty id.\n";        
+        detail::outwarn(actions.current_file, first.base()) << "Empty id.\n";
     }
 
     // Not a general purpose normalization function, just
@@ -1667,7 +1682,7 @@ namespace quickbook
 
         if(path_text.find('\\') != std::string::npos)
         {
-            detail::outwarn(actions.filename, path.get_position().line)
+            detail::outwarn(path.get_file(), path.get_position())
                 << "Path isn't portable: "
                 << detail::utf8(path_text)
                 << std::endl;
@@ -1692,7 +1707,7 @@ namespace quickbook
         {
             return path_difference(
                 actions.xinclude_base,
-                actions.filename.parent_path() / path);
+                actions.current_file->path.parent_path() / path);
                 
         }
     }
@@ -1725,7 +1740,7 @@ namespace quickbook
         include_search_return include_search(std::string const & name,
                 quickbook::actions const& actions)
         {
-            fs::path current = actions.filename.parent_path();
+            fs::path current = actions.current_file->path.parent_path();
             fs::path path = detail::generic_to_path(name);
 
             // If the path is relative, try and resolve it.
@@ -1772,17 +1787,16 @@ namespace quickbook
                 qbk_version_n >= 106u ? file_state::scope_callables :
                 file_state::scope_macros);
 
-            actions.imported = (load_type == block_tags::import);
-            actions.filename = paths.filename;
+            actions.current_file = load(paths.filename); // Throws load_error
             actions.filename_relative = paths.filename_relative;
+            actions.imported = (load_type == block_tags::import);
 
             // update the __FILENAME__ macro
             *boost::spirit::classic::find(actions.macro, "__FILENAME__")
                 = detail::path_to_generic(actions.filename_relative);
         
             // parse the file
-            quickbook::parse_file(actions.filename, actions,
-                include_doc_id, true);
+            quickbook::parse_file(actions, include_doc_id, true);
 
             // Don't restore source_mode on older versions.
             if (keep_inner_source_mode) state.source_mode = actions.source_mode;
@@ -1796,7 +1810,7 @@ namespace quickbook
     void load_source_file(quickbook::actions& actions,
             include_search_return const& paths,
             value::tag_type load_type,
-            file_position pos,
+            string_iterator first,
             value const& include_doc_id = value())
     {
         assert(load_type == block_tags::include ||
@@ -1804,7 +1818,7 @@ namespace quickbook
 
         std::string ext = paths.filename.extension().generic_string();
         std::vector<template_symbol> storage;
-        // Throws detail::load_error
+        // Throws load_error
         actions.error_count +=
             load_snippets(paths.filename, storage, ext, load_type);
 
@@ -1821,7 +1835,7 @@ namespace quickbook
                 ts.parent = &actions.templates.top_scope();
                 if (!actions.templates.add(ts))
                 {
-                    detail::outerr(ts.body.filename, ts.body.content.get_position().line)
+                    detail::outerr(ts.body.content.get_file(), ts.body.content.get_position())
                         << "Template Redefinition: " << detail::utf8(tname) << std::endl;
                     ++actions.error_count;
                 }
@@ -1837,7 +1851,7 @@ namespace quickbook
                 if (tname == "!")
                 {
                     ts.parent = &actions.templates.top_scope();
-                    call_code_snippet(actions, false, &ts, pos);
+                    call_code_snippet(actions, false, &ts, first);
                 }
             }
 
@@ -1845,7 +1859,7 @@ namespace quickbook
         }
     }
 
-    void include_action(quickbook::actions& actions, value include, file_position pos)
+    void include_action(quickbook::actions& actions, value include, string_iterator first)
     {
         write_anchors(actions, actions.out);
 
@@ -1869,7 +1883,7 @@ namespace quickbook
                 }
                 else
                 {
-                    load_source_file(actions, paths, include.get_tag(), pos, include_doc_id);
+                    load_source_file(actions, paths, include.get_tag(), first, include_doc_id);
                 }
             }
             else
@@ -1880,14 +1894,14 @@ namespace quickbook
                 }
                 else
                 {
-                    load_source_file(actions, paths, include.get_tag(), pos, include_doc_id);
+                    load_source_file(actions, paths, include.get_tag(), first, include_doc_id);
                 }
             }
         }
-        catch (detail::load_error& e) {
+        catch (load_error& e) {
             ++actions.error_count;
 
-            detail::outerr(actions.filename, pos.line)
+            detail::outerr(actions.current_file, first)
                 << "Loading file:"
                 << paths.filename
                 << ": "
@@ -1896,7 +1910,7 @@ namespace quickbook
         }
     }
 
-    void phrase_to_docinfo_action_impl::operator()(iterator first, iterator last,
+    void phrase_to_docinfo_action_impl::operator()(parse_iterator first, parse_iterator last,
             value::tag_type tag) const
     {
         write_anchors(actions, actions.phrase);
@@ -1904,15 +1918,15 @@ namespace quickbook
         std::string encoded;
         actions.phrase.swap(encoded);
         actions.values.builder.insert(
-            qbk_bbk_value(first, last, encoded, tag));
+            qbk_bbk_value(actions.current_file, first.base(), last.base(), encoded, tag));
     }
 
-    void phrase_to_docinfo_action_impl::operator()(iterator first, iterator last) const
+    void phrase_to_docinfo_action_impl::operator()(parse_iterator first, parse_iterator last) const
     {
         return (*this)(first, last, value::default_tag);
     }
     
-    void to_value_action::operator()(iterator, iterator) const
+    void to_value_action::operator()(parse_iterator, parse_iterator) const
     {
         std::string value;
 
diff --git a/src/actions.hpp b/src/actions.hpp
index 96ea1e5..0d77771 100644
--- a/src/actions.hpp
+++ b/src/actions.hpp
@@ -52,12 +52,12 @@ namespace quickbook
         return quickbook_range(0, max_);
     }
 
-    // Throws detail::load_error
+    // Throws load_error
     int load_snippets(fs::path const& file, std::vector<template_symbol>& storage,
         std::string const& extension, value::tag_type load_type);
 
     std::string syntax_highlight(
-        iterator first, iterator last,
+        parse_iterator first, parse_iterator last,
         actions& escape_actions,
         std::string const& source_mode);        
 
@@ -70,7 +70,7 @@ namespace quickbook
             , message(m)
         {}
 
-        void operator()(iterator, iterator) const;
+        void operator()(parse_iterator, parse_iterator) const;
 
         quickbook::actions& actions;
         std::string message;
@@ -83,7 +83,7 @@ namespace quickbook
         error_action(quickbook::actions& actions)
         : actions(actions) {}
 
-        void operator()(iterator first, iterator /*last*/) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         error_message_action operator()(std::string const& message)
         {
@@ -98,7 +98,7 @@ namespace quickbook
         element_action(quickbook::actions& actions)
             : actions(actions) {}
 
-        void operator()(iterator, iterator) const;
+        void operator()(parse_iterator, parse_iterator) const;
 
         quickbook::actions& actions;
     };
@@ -113,7 +113,7 @@ namespace quickbook
         : actions(actions) {}
 
         void operator()() const;
-        void operator()(iterator, iterator) const { (*this)(); }
+        void operator()(parse_iterator, parse_iterator) const { (*this)(); }
 
         quickbook::actions& actions;
     };
@@ -154,7 +154,7 @@ namespace quickbook
         span(char const* name, collector& out)
         : name(name), out(out) {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         char const* name;
         collector& out;
@@ -165,7 +165,7 @@ namespace quickbook
         span_start(char const* name, collector& out)
         : name(name), out(out) {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         char const* name;
         collector& out;
@@ -176,7 +176,7 @@ namespace quickbook
         span_end(collector& out)
         : out(out) {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         collector& out;
     };
@@ -191,7 +191,7 @@ namespace quickbook
         : out(out)
         , actions(actions) {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         collector& out;
         quickbook::actions& actions;
@@ -220,8 +220,8 @@ namespace quickbook
         space(collector& out)
             : out(out) {}
 
-        void operator()(iterator first, iterator last) const;
         void operator()(char ch) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         collector& out;
     };
@@ -233,7 +233,7 @@ namespace quickbook
         pre_escape_back(actions& escape_actions, std::string& save)
             : escape_actions(escape_actions), save(save) {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         actions& escape_actions;
         std::string& save;
@@ -246,7 +246,7 @@ namespace quickbook
         post_escape_back(collector& out, actions& escape_actions, std::string& save)
             : out(out), escape_actions(escape_actions), save(save) {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         collector& out;
         actions& escape_actions;
@@ -263,7 +263,7 @@ namespace quickbook
         , actions(actions) {}
 
         void operator()(char ch) const;
-        void operator()(iterator first, iterator /*last*/) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         collector& phrase;
         quickbook::actions& actions;
@@ -274,7 +274,7 @@ namespace quickbook
         escape_unicode_action(collector& phrase, quickbook::actions& actions)
         : phrase(phrase)
         , actions(actions) {}
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         collector& phrase;
         quickbook::actions& actions;
@@ -294,7 +294,7 @@ namespace quickbook
         {
         }
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         collector& out;
         collector& phrase;
@@ -312,7 +312,7 @@ namespace quickbook
         , actions(actions)
         {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         collector& out;
         quickbook::actions& actions;
@@ -325,7 +325,7 @@ namespace quickbook
         break_action(collector& phrase, quickbook::actions& actions)
         : phrase(phrase), actions(actions) {}
 
-        void operator()(iterator f, iterator) const;
+        void operator()(parse_iterator f, parse_iterator) const;
 
         collector& phrase;
         quickbook::actions& actions;
@@ -336,7 +336,7 @@ namespace quickbook
         element_id_warning_action(quickbook::actions& actions_)
             : actions(actions_) {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         quickbook::actions& actions;
    };
@@ -359,8 +359,8 @@ namespace quickbook
         phrase_to_docinfo_action_impl(quickbook::actions& actions)
             : actions(actions) {}
 
-        void operator()(iterator first, iterator last) const;
-        void operator()(iterator first, iterator last, value::tag_type) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last, value::tag_type) const;
 
         quickbook::actions& actions;
     };
@@ -372,7 +372,7 @@ namespace quickbook
         to_value_action(quickbook::actions& actions)
             : actions(actions) {}
 
-        void operator()(iterator first, iterator last) const;
+        void operator()(parse_iterator first, parse_iterator last) const;
 
         quickbook::actions& actions;
     };
diff --git a/src/actions_class.cpp b/src/actions_class.cpp
index cbbfe0a..e762cdd 100644
--- a/src/actions_class.cpp
+++ b/src/actions_class.cpp
@@ -40,7 +40,7 @@ namespace quickbook
         , doc_type()
         , macro()
         , source_mode("c++")
-        , filename(filein_)
+        , current_file(0)
         , filename_relative(filein_.filename())
 
         , template_depth(0)
@@ -48,9 +48,7 @@ namespace quickbook
 
         , out(out_)
         , phrase()
-        , values()
-
-    // actions
+        , values(&current_file)
         , to_value(*this)
         , docinfo_value(*this)
 
@@ -98,7 +96,7 @@ namespace quickbook
         , qbk_version(qbk_version_n)
         , imported(a.imported)
         , doc_type(a.doc_type)
-        , filename(a.filename)
+        , current_file(a.current_file)
         , filename_relative(a.filename_relative)
         , source_mode(a.source_mode)
         , macro()
@@ -118,7 +116,7 @@ namespace quickbook
         boost::swap(qbk_version_n, qbk_version);
         boost::swap(a.imported, imported);
         boost::swap(a.doc_type, doc_type);
-        boost::swap(a.filename, filename);
+        boost::swap(a.current_file, current_file);
         boost::swap(a.filename_relative, filename_relative);
         boost::swap(a.source_mode, source_mode);
         if (scope & scope_output) {
diff --git a/src/actions_class.hpp b/src/actions_class.hpp
index 686ecf9..f654dc0 100644
--- a/src/actions_class.hpp
+++ b/src/actions_class.hpp
@@ -55,7 +55,7 @@ namespace quickbook
         std::string             doc_type;
         string_symbols          macro;
         std::string             source_mode;
-        fs::path                filename;
+        file const*             current_file;
         fs::path                filename_relative;  // for the __FILENAME__ macro.
                                                     // (relative to the original file
                                                     //  or include path).
diff --git a/src/actions_state.hpp b/src/actions_state.hpp
index 16684fd..d8a4801 100644
--- a/src/actions_state.hpp
+++ b/src/actions_state.hpp
@@ -37,7 +37,7 @@ namespace quickbook
         unsigned qbk_version;
         bool imported;
         std::string doc_type;
-        fs::path filename;
+        file const* current_file;
         fs::path filename_relative;
         std::string source_mode;
         string_symbols macro;
diff --git a/src/code_snippet.cpp b/src/code_snippet.cpp
index a952e95..50dd406 100644
--- a/src/code_snippet.cpp
+++ b/src/code_snippet.cpp
@@ -17,6 +17,7 @@
 #include "template_stack.hpp"
 #include "actions.hpp"
 #include "values.hpp"
+#include "files.hpp"
 
 namespace quickbook
 {
@@ -25,20 +26,20 @@ namespace quickbook
     struct code_snippet_actions
     {
         code_snippet_actions(std::vector<template_symbol>& storage,
-                                 fs::path const& filename,
-                                 char const* source_type)
+                                file const* source_file,
+                                char const* source_type)
             : callout_id(0)
             , storage(storage)
-            , filename(filename)
+            , source_file(source_file)
             , source_type(source_type)
         {}
 
         void pass_thru_char(char);
-        void pass_thru(iterator first, iterator last);
-        void escaped_comment(iterator first, iterator last);
-        void start_snippet(iterator first, iterator last);
-        void end_snippet(iterator first, iterator last);
-        void callout(iterator first, iterator last);
+        void pass_thru(string_iterator first, string_iterator last);
+        void escaped_comment(string_iterator first, string_iterator last);
+        void start_snippet(string_iterator first, string_iterator last);
+        void end_snippet(string_iterator first, string_iterator last);
+        void callout(string_iterator first, string_iterator last);
         
         void append_code();
         void close_code();
@@ -83,7 +84,7 @@ namespace quickbook
         std::string code;
         std::string id;
         std::vector<template_symbol>& storage;
-        fs::path filename;
+        file const* source_file;
         char const* const source_type;
     };
 
@@ -310,7 +311,7 @@ namespace quickbook
     };
 
     int load_snippets(
-        fs::path const& file
+        fs::path const& filename
       , std::vector<template_symbol>& storage   // snippets are stored in a
                                                 // vector of template_symbols
       , std::string const& extension
@@ -319,16 +320,14 @@ namespace quickbook
         assert(load_type == block_tags::include ||
             load_type == block_tags::import);
 
-        std::string code;
-        detail::load(file, code); // Throws detail::load_error.
-
-        iterator first(code.begin());
-        iterator last(code.end());
-
         bool is_python = extension == ".py";
-        code_snippet_actions a(storage, file, is_python ? "[python]" : "[c++]");
+        code_snippet_actions a(storage, load(filename), is_python ? "[python]" : "[c++]");
+
         // TODO: Should I check that parse succeeded?
 
+        string_iterator first(a.source_file->source.begin());
+        string_iterator last(a.source_file->source.end());
+
         if(is_python) {
             boost::spirit::classic::parse(first, last, python_code_snippet_grammar(a));
         }
@@ -378,7 +377,7 @@ namespace quickbook
         }
     }
 
-    void code_snippet_actions::pass_thru(iterator first, iterator last)
+    void code_snippet_actions::pass_thru(string_iterator first, string_iterator last)
     {
         if(!snippet_stack) return;
         code.append(first, last);
@@ -390,16 +389,16 @@ namespace quickbook
         code += c;
     }
 
-    void code_snippet_actions::callout(iterator first, iterator last)
+    void code_snippet_actions::callout(string_iterator first, string_iterator last)
     {
         if(!snippet_stack) return;
         code += "``[[callout" + boost::lexical_cast<std::string>(callout_id) + "]]``";
     
-        snippet_stack->callouts.insert(qbk_value(first, last, template_tags::block));
+        snippet_stack->callouts.insert(qbk_value_ref(source_file, first, last, template_tags::block));
         ++callout_id;
     }
 
-    void code_snippet_actions::escaped_comment(iterator first, iterator last)
+    void code_snippet_actions::escaped_comment(string_iterator first, string_iterator last)
     {
        if (!snippet_stack)
        {
@@ -425,14 +424,14 @@ namespace quickbook
         }
     }
 
-    void code_snippet_actions::start_snippet(iterator, iterator)
+    void code_snippet_actions::start_snippet(string_iterator, string_iterator)
     {
         append_code();
         push_snippet_data(id, callout_id);
         id.clear();
     }
 
-    void code_snippet_actions::end_snippet(iterator first, iterator)
+    void code_snippet_actions::end_snippet(string_iterator first, string_iterator)
     {
         // TODO: Error?
         if(!snippet_stack) return;
@@ -462,9 +461,7 @@ namespace quickbook
         }
         
         // TODO: Save position in start_snippet
-        template_symbol symbol(snippet->id, params,
-            qbk_value(body, first.get_position(), template_tags::block),
-            filename);
+        template_symbol symbol(snippet->id, params, qbk_value(body, template_tags::block));
         symbol.callouts = callouts;
         storage.push_back(symbol);
 
diff --git a/src/doc_info_actions.cpp b/src/doc_info_actions.cpp
index 3a5276d..40cb678 100644
--- a/src/doc_info_actions.cpp
+++ b/src/doc_info_actions.cpp
@@ -14,6 +14,7 @@
 #include <boost/foreach.hpp>
 #include "quickbook.hpp"
 #include "utils.hpp"
+#include "files.hpp"
 #include "input_path.hpp"
 #include "actions_class.hpp"
 #include "doc_info_tags.hpp"
@@ -120,7 +121,7 @@ namespace quickbook
 
         if(!duplicates.empty())
         {
-            detail::outwarn(actions.filename,1)
+            detail::outwarn(actions.current_file->path,1)
                 << (duplicates.size() > 1 ?
                     "Duplicate attributes" : "Duplicate attribute")
                 << ":" << detail::utf8(boost::algorithm::join(duplicates, ", "))
@@ -128,15 +129,24 @@ namespace quickbook
                 ;
         }
 
+        std::string include_doc_id_, id_;
+
+        if (!include_doc_id.empty())
+            include_doc_id_.assign(
+                include_doc_id.get_quickbook().begin(),
+                include_doc_id.get_quickbook().end());
+
+        if (!id.empty())
+            id_.assign(
+                id.get_quickbook().begin(),
+                id.get_quickbook().end());
+
         // if we're ignoring the document info, just start the file
         // and we're done.
 
         if (!docinfo_type)
         {
-            actions.ids.start_file(
-                include_doc_id.empty() ? "" : include_doc_id.get_quickbook(),
-                id.empty() ? "" : id.get_quickbook(),
-                actions.doc_title_qbk);
+            actions.ids.start_file(include_doc_id_, id_, actions.doc_title_qbk);
 
             return;
         }
@@ -151,7 +161,7 @@ namespace quickbook
             qbk_major_version = 1;
             qbk_minor_version = 1;
             qbk_version_n = 101;
-            detail::outwarn(actions.filename,1)
+            detail::outwarn(actions.current_file->path,1)
                 << "Quickbook version undefined. "
                 "Version 1.1 is assumed" << std::endl;
         }
@@ -168,13 +178,13 @@ namespace quickbook
 
         if (qbk_version_n == 106)
         {
-            detail::outwarn(actions.filename,1)
+            detail::outwarn(actions.current_file->path,1)
                 << "Quickbook 1.6 is still under development and is "
                 "likely to change in the future." << std::endl;
         }
         else if(qbk_version_n < 100 || qbk_version_n > 106)
         {
-            detail::outerr(actions.filename,1)
+            detail::outerr(actions.current_file->path,1)
                 << "Unknown version of quickbook: quickbook "
                 << qbk_major_version
                 << "."
@@ -185,9 +195,7 @@ namespace quickbook
 
         id_manager::start_file_info start_file_info =
             actions.ids.start_file_with_docinfo(
-                qbk_version_n,
-                include_doc_id.empty() ? "" : include_doc_id.get_quickbook(),
-                id.empty() ? "" : id.get_quickbook(),
+                qbk_version_n, include_doc_id_, id_,
                 actions.doc_title_qbk);
 
         // if we're ignoring the document info, we're done.
@@ -202,33 +210,6 @@ namespace quickbook
         assert(doc_title.check() && !actions.doc_type.empty() &&
             !start_file_info.doc_id.empty());
 
-        // Set defaults for dirname + last_revision
-
-        if (dirname.empty() && actions.doc_type == "library") {
-            if (!id.empty()) {
-                dirname = id;
-            }
-            else {
-                dirname = qbk_bbk_value(start_file_info.doc_id,
-                    doc_info_attributes::dirname);
-            }
-        }
-
-        if (last_revision.empty())
-        {
-            // default value for last-revision is now
-
-            char strdate[64];
-            strftime(
-                strdate, sizeof(strdate),
-                (debug_mode ?
-                    "DEBUG MODE Date: %Y/%m/%d %H:%M:%S $" :
-                    "$" /* prevent CVS substitution */ "Date: %Y/%m/%d %H:%M:%S $"),
-                current_gm_time
-            );
-            last_revision = qbk_bbk_value(strdate, doc_info_attributes::last_revision);
-        }
-
         // Warn about invalid fields
 
         if (actions.doc_type != "library")
@@ -246,7 +227,7 @@ namespace quickbook
 
             if(!invalid_attributes.empty())
             {
-                detail::outwarn(actions.filename,1)
+                detail::outwarn(actions.current_file->path,1)
                     << (invalid_attributes.size() > 1 ?
                         "Invalid attributes" : "Invalid attribute")
                     << " for '" << detail::utf8(actions.doc_type) << " document info': "
@@ -285,16 +266,40 @@ namespace quickbook
             out << "    name=\"" << doc_info_output(doc_title, 106) << "\"\n";
         }
 
-        if(!dirname.empty())
+        // Set defaults for dirname + last_revision
+
+        if(!dirname.empty() || actions.doc_type == "library")
         {
-            out << "    dirname=\""
-                << doc_info_output(dirname, 106)
-                << "\"\n";
+            out << "    dirname=\"";
+            if (!dirname.empty())
+                out << doc_info_output(dirname, 106);
+            else
+                out << start_file_info.doc_id;
+            out << "\"\n";
         }
 
-        out << "    last-revision=\""
-            << doc_info_output(last_revision, 106)
-            << "\" \n"
+        out << "    last-revision=\"";
+        if (!last_revision.empty())
+        {
+            out << doc_info_output(last_revision, 106);
+        }
+        else
+        {
+            // default value for last-revision is now
+
+            char strdate[64];
+            strftime(
+                strdate, sizeof(strdate),
+                (debug_mode ?
+                    "DEBUG MODE Date: %Y/%m/%d %H:%M:%S $" :
+                    "$" /* prevent CVS substitution */ "Date: %Y/%m/%d %H:%M:%S $"),
+                current_gm_time
+            );
+
+            out << strdate;
+        }
+
+        out << "\" \n"
             << "    xmlns:xi=\"http://www.w3.org/2001/XInclude\">\n";
 
         std::ostringstream tmp;
@@ -329,7 +334,8 @@ namespace quickbook
     
                 while(copyright.check(doc_info_tags::copyright_year))
                 {
-                    int year_start = copyright.consume().get_int();
+                    value year_start_value = copyright.consume();
+                    int year_start = year_start_value.get_int();
                     int year_end =
                         copyright.check(doc_info_tags::copyright_year_end) ?
                         copyright.consume().get_int() :
@@ -338,8 +344,7 @@ namespace quickbook
                     if (year_end < year_start) {
                         ++actions.error_count;
     
-                        detail::outerr(actions.filename,
-                            copyright.begin()->get_position().line)
+                        detail::outerr(actions.current_file, copyright.begin()->get_position())
                             << "Invalid year range: "
                             << year_start
                             << "-"
@@ -436,7 +441,7 @@ namespace quickbook
 
         // Close any open sections.
         if (docinfo_type && actions.ids.section_level() > 1) {
-            detail::outwarn(actions.filename)
+            detail::outwarn(actions.current_file->path)
                 << "Missing [endsect] detected at end of file."
                 << std::endl;
 
diff --git a/src/doc_info_grammar.cpp b/src/doc_info_grammar.cpp
index 05ea6e4..3a4fc3f 100644
--- a/src/doc_info_grammar.cpp
+++ b/src/doc_info_grammar.cpp
@@ -58,7 +58,7 @@ namespace quickbook
                 : l(l)
             {}
 
-            void operator()(iterator, iterator) const {
+            void operator()(parse_iterator, parse_iterator) const {
                 l.attribute_rule = l.doc_fallback;
                 l.attribute_tag = value::default_tag;
             }
diff --git a/src/files.cpp b/src/files.cpp
new file mode 100644
index 0000000..ac313f7
--- /dev/null
+++ b/src/files.cpp
@@ -0,0 +1,126 @@
+/*=============================================================================
+    Copyright (c) 2002 2004 2006 Joel de Guzman
+    Copyright (c) 2004 Eric Niebler
+    http://spirit.sourceforge.net/
+
+    Use, modification and distribution is subject to the Boost Software
+    License, Version 1.0. (See accompanying file LICENSE_1_0.txt or copy at
+    http://www.boost.org/LICENSE_1_0.txt)
+=============================================================================*/
+#include "files.hpp"
+#include <boost/filesystem/v3/fstream.hpp>
+#include <boost/unordered_map.hpp>
+#include <fstream>
+
+namespace quickbook
+{
+    // Read the first few bytes in a file to see it starts with a byte order
+    // mark. If it doesn't, then write the characters we've already read in.
+    // Although, given how UTF-8 works, if we've read anything in, the files
+    // probably broken.
+
+    template <typename InputIterator, typename OutputIterator>
+    bool check_bom(InputIterator& begin, InputIterator end,
+            OutputIterator out, char const* chars, int length)
+    {
+        char const* ptr = chars;
+
+        while(begin != end && *begin == *ptr) {
+            ++begin;
+            ++ptr;
+            --length;
+            if(length == 0) return true;
+        }
+
+        // Failed to match, so write the skipped characters to storage:
+        while(chars != ptr) *out++ = *chars++;
+
+        return false;
+    }
+
+    template <typename InputIterator, typename OutputIterator>
+    std::string read_bom(InputIterator& begin, InputIterator end,
+            OutputIterator out)
+    {
+        if(begin == end) return "";
+
+        const char* utf8 = "\xef\xbb\xbf" ;
+        const char* utf32be = "\0\0\xfe\xff";
+        const char* utf32le = "\xff\xfe\0\0";
+
+        unsigned char c = *begin;
+        switch(c)
+        {
+        case 0xEF: { // UTF-8
+            return check_bom(begin, end, out, utf8, 3) ? "UTF-8" : "";
+        }
+        case 0xFF: // UTF-16/UTF-32 little endian
+            return !check_bom(begin, end, out, utf32le, 2) ? "" :
+                check_bom(begin, end, out, utf32le + 2, 2) ? "UTF-32" : "UTF-16";
+        case 0: // UTF-32 big endian
+            return check_bom(begin, end, out, utf32be, 4) ? "UTF-32" : "";
+        case 0xFE: // UTF-16 big endian
+            return check_bom(begin, end, out, utf32be + 2, 2) ? "UTF-16" : "";
+        default:
+            return "";
+        }
+    }
+
+    // Copy a string, converting mac and windows style newlines to unix
+    // newlines.
+
+    template <typename InputIterator, typename OutputIterator>
+    void normalize(InputIterator begin, InputIterator end,
+            OutputIterator out)
+    {
+        std::string encoding = read_bom(begin, end, out);
+
+        if(encoding != "UTF-8" && encoding != "")
+        throw load_error(encoding +
+            " is not supported. Please use UTF-8.");
+
+        while(begin != end) {
+            if(*begin == '\r') {
+                *out++ = '\n';
+                ++begin;
+                if(begin != end && *begin == '\n') ++begin;
+            }
+            else {
+                *out++ = *begin++;
+            }
+        }
+    }
+
+    namespace
+    {
+        boost::unordered_map<fs::path, file> files;
+    }
+
+    file const* load(fs::path const& filename)
+    {
+        boost::unordered_map<fs::path, file>::iterator pos;
+        bool inserted;
+
+        boost::tie(pos, inserted) = files.emplace(filename, file());
+
+        if (inserted)
+        {
+            pos->second.path = filename;
+
+            fs::ifstream in(filename, std::ios_base::in);
+
+            if (!in)
+                throw load_error("Could not open input file.");
+
+            // Turn off white space skipping on the stream
+            in.unsetf(std::ios::skipws);
+
+            normalize(
+                std::istream_iterator<char>(in),
+                std::istream_iterator<char>(),
+                std::back_inserter(pos->second.source));
+        }
+
+        return &pos->second;
+    }
+}
diff --git a/src/files.hpp b/src/files.hpp
new file mode 100644
index 0000000..c5b5ca7
--- /dev/null
+++ b/src/files.hpp
@@ -0,0 +1,37 @@
+/*=============================================================================
+    Copyright (c) 2002 2004 2006 Joel de Guzman
+    Copyright (c) 2004 Eric Niebler
+    Copyright (c) 2011 Daniel James
+
+    Use, modification and distribution is subject to the Boost Software
+    License, Version 1.0. (See accompanying file LICENSE_1_0.txt or copy at
+    http://www.boost.org/LICENSE_1_0.txt)
+=============================================================================*/
+
+#if !defined(BOOST_QUICKBOOK_FILES_HPP)
+#define BOOST_QUICKBOOK_FILES_HPP
+
+#include <string>
+#include <boost/filesystem/v3/path.hpp>
+#include <stdexcept>
+
+namespace quickbook {
+
+    namespace fs = boost::filesystem;
+
+    struct load_error : std::runtime_error
+    {
+        explicit load_error(std::string const& arg)
+            : std::runtime_error(arg) {}
+    };
+
+    struct file
+    {
+        fs::path path;
+        std::string source;
+    };
+
+    file const* load(fs::path const& filename);
+}
+
+#endif // BOOST_QUICKBOOK_FILES_HPP
diff --git a/src/fwd.hpp b/src/fwd.hpp
index 9d4a9e9..5e8a0e1 100644
--- a/src/fwd.hpp
+++ b/src/fwd.hpp
@@ -20,8 +20,10 @@ namespace quickbook
     struct collector;
     struct id_manager;
     struct section_info;
+    struct file;
 
-    typedef position_iterator<std::string::const_iterator> iterator;
+    typedef std::string::const_iterator string_iterator;
+    typedef lookback_iterator<string_iterator> parse_iterator;
 
     inline void ignore_variable(void const*) {} 
 }
diff --git a/src/grammar.hpp b/src/grammar.hpp
index f749588..d54ccf0 100644
--- a/src/grammar.hpp
+++ b/src/grammar.hpp
@@ -21,7 +21,7 @@ namespace quickbook
     // spirit implementation detail, but since classic is no longer under
     // development, it won't change. And spirit 2 won't require such a hack.
 
-    typedef cl::scanner<iterator, cl::scanner_policies <
+    typedef cl::scanner<parse_iterator, cl::scanner_policies <
         cl::iteration_policy, cl::match_policy, cl::action_policy> > scanner;
 
     struct grammar
diff --git a/src/input_path.cpp b/src/input_path.cpp
index 67da796..43701ff 100644
--- a/src/input_path.cpp
+++ b/src/input_path.cpp
@@ -10,6 +10,7 @@
 #include <iostream>
 #include "input_path.hpp"
 #include "utils.hpp"
+#include "files.hpp"
 
 #if QUICKBOOK_WIDE_PATHS || QUICKBOOK_WIDE_STREAMS
 #include <boost/scoped_ptr.hpp>
@@ -229,6 +230,11 @@ namespace detail {
         }
     }
 
+    ostream& outerr(file const* f, string_iterator pos)
+    {
+        return outerr(f->path, get_position(pos, f->source).line);
+    }
+
     ostream& outwarn(fs::path const& file, int line)
     {
         if (line >= 0)
@@ -243,4 +249,9 @@ namespace detail {
             return error_stream() << path_to_stream(file) << ": warning: ";
         }
     }
+
+    ostream& outwarn(file const* f, string_iterator pos)
+    {
+        return outwarn(f->path, get_position(pos, f->source).line);
+    }
 }}
diff --git a/src/input_path.hpp b/src/input_path.hpp
index 7d1f4e3..2f59eeb 100644
--- a/src/input_path.hpp
+++ b/src/input_path.hpp
@@ -14,6 +14,7 @@
 #include <string>
 #include <stdexcept>
 #include <iostream>
+#include "fwd.hpp"
 
 #if defined(__cygwin__) || defined(__CYGWIN__)
 #   define QUICKBOOK_CYGWIN_PATHS 1
@@ -91,6 +92,8 @@ namespace quickbook
         ostream& outerr();
         ostream& outerr(fs::path const& file, int line = -1);
         ostream& outwarn(fs::path const& file, int line = -1);
+        ostream& outerr(file const*, string_iterator);
+        ostream& outwarn(file const*, string_iterator);
         
         struct utf8_proxy
         {
diff --git a/src/iterator.hpp b/src/iterator.hpp
index 41d6b43..46e8568 100644
--- a/src/iterator.hpp
+++ b/src/iterator.hpp
@@ -26,49 +26,31 @@ namespace quickbook
     };
     
     template <typename Iterator>
-    struct position_iterator
+    struct lookback_iterator
         : boost::forward_iterator_helper<
-            position_iterator<Iterator>,
+            lookback_iterator<Iterator>,
             typename boost::iterator_value<Iterator>::type,
             typename boost::iterator_difference<Iterator>::type,
             typename boost::iterator_pointer<Iterator>::type,
             typename boost::iterator_reference<Iterator>::type
         >
     {
-        position_iterator() {}
-        explicit position_iterator(Iterator base)
-            : original_(base), base_(base), previous_('\0'), position_() {}
-        explicit position_iterator(Iterator base, file_position const& position)
-            : original_(base), base_(base), previous_('\0'), position_(position) {}
+        lookback_iterator() {}
+        explicit lookback_iterator(Iterator base)
+            : original_(base), base_(base) {}
+        explicit lookback_iterator(Iterator base, file_position const& position)
+            : original_(base), base_(base) {}
     
         friend bool operator==(
-            position_iterator const& x,
-            position_iterator const& y)
+            lookback_iterator const& x,
+            lookback_iterator const& y)
         {
             return x.base_ == y.base_;
         }
         
-        position_iterator& operator++()
+        lookback_iterator& operator++()
         {
-            char val = *base_;
-    
-            if (val == '\r') {
-                ++position_.line;
-                position_.column = 1;
-            }
-            else if (val == '\n') {
-                if (previous_ != '\r') {
-                    ++position_.line;
-                    position_.column = 1;
-                }
-            }
-            else {
-                ++position_.column;
-            }
-    
-            previous_ = val;
             ++base_;
-
             return *this;
         }
     
@@ -77,10 +59,6 @@ namespace quickbook
             return *base_;
         }
         
-        file_position const& get_position() const {
-            return position_;
-        }
-    
         Iterator base() const {
             return base_;
         }
@@ -96,9 +74,57 @@ namespace quickbook
     private:
         Iterator original_;
         Iterator base_;
-        char previous_;
-        file_position position_;
     };
+
+    template <typename String, typename Iterator>
+    file_position get_position(
+            Iterator iterator,
+            String const& source)
+    {
+        file_position pos;
+        Iterator line_begin = source.begin();
+
+        Iterator begin = source.begin();
+        while (begin != iterator)
+        {
+            assert(begin != source.end());
+
+            if (*begin == '\r')
+            {
+                ++begin;
+                ++pos.line;
+                line_begin = begin;
+            }
+            else if (*begin == '\n')
+            {
+                ++begin;
+                ++pos.line;
+                line_begin = begin;
+                if (begin == iterator) break;
+                assert(begin != source.end());
+                if (*begin == '\r')
+                {
+                    ++begin;
+                    line_begin = begin;
+                }
+            }
+            else
+            {
+                ++begin;
+            }
+        }
+
+        pos.column = iterator - line_begin + 1;
+        return pos;
+    }
+
+    template <typename String, typename Iterator>
+    file_position get_position(
+            lookback_iterator<Iterator> iterator,
+            String const& source)
+    {
+        return get_position(iterator.base(), source);
+    }
 }
 
 #endif
diff --git a/src/quickbook.cpp b/src/quickbook.cpp
index a1dc828..2af0647 100644
--- a/src/quickbook.cpp
+++ b/src/quickbook.cpp
@@ -12,6 +12,7 @@
 #include "actions_class.hpp"
 #include "post_process.hpp"
 #include "utils.hpp"
+#include "files.hpp"
 #include "input_path.hpp"
 #include "id_manager.hpp"
 #include <boost/program_options.hpp>
@@ -57,8 +58,8 @@ namespace quickbook
                 it != end; ++it)
         {
             // TODO: Set filename in actor???
-            iterator first(it->begin());
-            iterator last(it->end());
+            parse_iterator first(it->begin());
+            parse_iterator last(it->end());
 
             cl::parse(first, last, actor.grammar().command_line_macro);
             // TODO: Check result?
@@ -70,14 +71,10 @@ namespace quickbook
     //  Parse a file
     //
     ///////////////////////////////////////////////////////////////////////////
-    void parse_file(fs::path const& filein_, actions& actor,
-            value include_doc_id, bool nested_file)
+    void parse_file(actions& actor, value include_doc_id, bool nested_file)
     {
-        std::string storage;
-        detail::load(filein_, storage); // Throws detail::load_error
-
-        iterator first(storage.begin());
-        iterator last(storage.end());
+        parse_iterator first(actor.current_file->source.begin());
+        parse_iterator last(actor.current_file->source.end());
 
         // This is awkward. When not ignoring docinfo, the source_mode should be
         // reset, but the code doesn't find out if the docinfo is ignored until
@@ -86,7 +83,7 @@ namespace quickbook
         std::string saved_source_mode = actor.source_mode;
         if (qbk_version_n >= 106) actor.source_mode = "c++";
 
-        cl::parse_info<iterator> info = cl::parse(first, last, actor.grammar().doc_info);
+        cl::parse_info<parse_iterator> info = cl::parse(first, last, actor.grammar().doc_info);
 
         docinfo_types docinfo_type =
             !nested_file ? docinfo_main :
@@ -108,34 +105,13 @@ namespace quickbook
 
         if (!info.full)
         {
-            file_position const& pos = info.stop.get_position();
-            detail::outerr(actor.filename, pos.line)
+            file_position const& pos = get_position(info.stop, actor.current_file->source);
+            detail::outerr(actor.current_file->path, pos.line)
                 << "Syntax Error near column " << pos.column << ".\n";
             ++actor.error_count;
         }
     }
 
-    static int
-    parse_document(
-        fs::path const& filein_,
-        actions& actor)
-    {        
-        try {
-            parse_file(filein_, actor);
-
-            if(actor.error_count) {
-                detail::outerr()
-                    << "Error count: " << actor.error_count << ".\n";
-            }
-        }
-        catch (detail::load_error& e) {
-            ++actor.error_count;
-            detail::outerr(filein_) << detail::utf8(e.what()) << std::endl;
-        }
-
-        return !!actor.error_count;
-    }
-
     static int
     parse_document(
         fs::path const& filein_
@@ -147,10 +123,28 @@ namespace quickbook
     {
         string_stream buffer;
         id_manager ids;
-        actions actor(filein_, xinclude_base_, buffer, ids);
-        set_macros(actor);
 
-        int result = parse_document(filein_, actor);
+        int result = 0;
+
+        try {
+            actions actor(filein_, xinclude_base_, buffer, ids);
+            set_macros(actor);
+
+            actor.current_file = load(filein_); // Throws load_error
+
+            parse_file(actor);
+
+            if(actor.error_count) {
+                detail::outerr()
+                    << "Error count: " << actor.error_count << ".\n";
+            }
+
+            result = !!actor.error_count;
+        }
+        catch (load_error& e) {
+            detail::outerr(filein_) << detail::utf8(e.what()) << std::endl;
+            result = 1;
+        }
 
         std::string stage2 = ids.replace_placeholders(buffer.str());
 
diff --git a/src/quickbook.hpp b/src/quickbook.hpp
index 49ae6c8..e86ea48 100644
--- a/src/quickbook.hpp
+++ b/src/quickbook.hpp
@@ -29,10 +29,9 @@ namespace quickbook
     extern std::vector<fs::path> include_path;
     extern std::vector<std::string> preset_defines;
 
-    void parse_file(fs::path const& filein_, actions& actor,
-        value include_doc_id = value(),
-        bool nested_file = false);
-    
+    void parse_file(actions& actor,
+            value include_doc_id = value(),
+            bool nested_file = false);
     // Some initialisation methods
     //
     // Declared here to avoid including other headers
diff --git a/src/string_ref.cpp b/src/string_ref.cpp
index a8043b5..b477557 100644
--- a/src/string_ref.cpp
+++ b/src/string_ref.cpp
@@ -9,6 +9,7 @@
 #include "string_ref.hpp"
 #include <boost/range/algorithm/equal.hpp>
 #include <boost/range/algorithm/lexicographical_compare.hpp>
+#include <ostream>
 
 namespace quickbook
 {
@@ -21,4 +22,9 @@ namespace quickbook
     {
         return boost::lexicographical_compare(x, y);
     }
+
+    std::ostream& operator<<(std::ostream& out, string_ref const& x)
+    {
+        return out.write(&*x.begin(), x.end() - x.begin());
+    }
 }
diff --git a/src/string_ref.hpp b/src/string_ref.hpp
index bf1f3e3..b712006 100644
--- a/src/string_ref.hpp
+++ b/src/string_ref.hpp
@@ -11,6 +11,7 @@
 
 #include <boost/operators.hpp>
 #include <string>
+#include <iosfwd>
 
 namespace quickbook
 {
@@ -56,6 +57,7 @@ namespace quickbook
 
     bool operator==(string_ref const& x, string_ref const& y);
     bool operator<(string_ref const& x, string_ref const& y);
+    std::ostream& operator<<(std::ostream&, string_ref const& x);
 
     inline bool operator==(string_ref const& x, std::string const& y)
     {
diff --git a/src/syntax_highlight.cpp b/src/syntax_highlight.cpp
index bacb23f..7a812ef 100644
--- a/src/syntax_highlight.cpp
+++ b/src/syntax_highlight.cpp
@@ -396,7 +396,8 @@ namespace quickbook
     };
 
     std::string syntax_highlight(
-        iterator first, iterator last,
+        parse_iterator first,
+        parse_iterator last,
         actions& escape_actions,
         std::string const& source_mode)
     {
diff --git a/src/template_stack.cpp b/src/template_stack.cpp
index e6d916a..98514f9 100644
--- a/src/template_stack.cpp
+++ b/src/template_stack.cpp
@@ -18,11 +18,9 @@ namespace quickbook
 {
     template_body::template_body(
             value const& content,
-            fs::path const& filename,
             content_type type
         )
         : content(content)
-        , filename(filename)
         , type(type)
     {
         assert(content.get_tag() == template_tags::block ||
diff --git a/src/template_stack.hpp b/src/template_stack.hpp
index eedee15..d3fd24e 100644
--- a/src/template_stack.hpp
+++ b/src/template_stack.hpp
@@ -34,11 +34,10 @@ namespace quickbook
             raw_output
         };
     
-        template_body(value const&, fs::path const&, content_type = quickbook);
+        template_body(value const&, content_type = quickbook);
         bool is_block() const;
 
-        stored_value content;
-        fs::path filename;        
+        value content;
         content_type type;
     };
 
@@ -61,11 +60,10 @@ namespace quickbook
                 std::string const& identifier,
                 std::vector<std::string> const& params,
                 value const& content,
-                fs::path const& filename,
                 template_scope const* parent = 0)
            : identifier(identifier)
            , params(params)
-           , body(content, filename)
+           , body(content)
            , parent(parent)
            , callouts() {}
 
@@ -78,7 +76,7 @@ namespace quickbook
         // or static_parent for clarity.
         template_scope const* parent;
 
-        stored_value callouts;
+        value callouts;
     };
 
     typedef boost::spirit::classic::symbols<template_symbol> template_symbols;
diff --git a/src/utils.cpp b/src/utils.cpp
index bd81dce..3f9275a 100644
--- a/src/utils.cpp
+++ b/src/utils.cpp
@@ -8,14 +8,9 @@
     http://www.boost.org/LICENSE_1_0.txt)
 =============================================================================*/
 #include "utils.hpp"
-#include <boost/spirit/include/classic_core.hpp>
-#include <boost/filesystem/v3/fstream.hpp>
 
 #include <cctype>
 #include <cstring>
-#include <stdexcept>
-#include <fstream>
-#include <ostream>
 #include <map>
 
 namespace quickbook { namespace detail
@@ -132,105 +127,7 @@ namespace quickbook { namespace detail
         }
         return uri;
     }
-
-    // Read the first few bytes in a file to see it starts with a byte order
-    // mark. If it doesn't, then write the characters we've already read in.
-    // Although, given how UTF-8 works, if we've read anything in, the files
-    // probably broken.
-
-    template <typename InputIterator, typename OutputIterator>
-    bool check_bom(InputIterator& begin, InputIterator end,
-            OutputIterator out, char const* chars, int length)
-    {
-        char const* ptr = chars;
-
-        while(begin != end && *begin == *ptr) {
-            ++begin;
-            ++ptr;
-            --length;
-            if(length == 0) return true;
-        }
-
-        // Failed to match, so write the skipped characters to storage:
-        while(chars != ptr) *out++ = *chars++;
-
-        return false;
-    }
     
-    template <typename InputIterator, typename OutputIterator>
-    std::string read_bom(InputIterator& begin, InputIterator end,
-            OutputIterator out)
-    {
-        if(begin == end) return "";
-
-        const char* utf8 = "\xef\xbb\xbf" ;
-        const char* utf32be = "\0\0\xfe\xff";
-        const char* utf32le = "\xff\xfe\0\0";
-
-        unsigned char c = *begin;
-        switch(c)
-        {
-        case 0xEF: { // UTF-8
-            return check_bom(begin, end, out, utf8, 3) ? "UTF-8" : "";
-        }
-        case 0xFF: // UTF-16/UTF-32 little endian
-            return !check_bom(begin, end, out, utf32le, 2) ? "" :
-                check_bom(begin, end, out, utf32le + 2, 2) ? "UTF-32" : "UTF-16";
-        case 0: // UTF-32 big endian
-            return check_bom(begin, end, out, utf32be, 4) ? "UTF-32" : "";
-        case 0xFE: // UTF-16 big endian
-            return check_bom(begin, end, out, utf32be + 2, 2) ? "UTF-16" : "";
-        default:
-            return "";
-        }
-    }
-
-    // Copy a string, converting mac and windows style newlines to unix
-    // newlines.
-
-    template <typename InputIterator, typename OutputIterator>
-    void normalize(InputIterator begin, InputIterator end,
-            OutputIterator out)
-    {
-        std::string encoding = read_bom(begin, end, out);
-
-        if(encoding != "UTF-8" && encoding != "")
-            throw load_error(encoding +
-                " is not supported. Please use UTF-8.");
-    
-        while(begin != end) {
-            if(*begin == '\r') {
-                *out++ = '\n';
-                ++begin;
-                if(begin != end && *begin == '\n') ++begin;
-            }
-            else {
-                *out++ = *begin++;
-            }
-        }
-    }
-
-    void load(fs::path const& filename, std::string& storage)
-    {
-        using std::endl;
-        using std::ios;
-        using std::ifstream;
-        using std::istream_iterator;
-
-        fs::ifstream in(filename, std::ios_base::in);
-
-        if (!in)
-            throw load_error("Could not open input file.");
-
-        // Turn off white space skipping on the stream
-        in.unsetf(ios::skipws);
-
-        normalize(
-            istream_iterator<char>(in),
-            istream_iterator<char>(),
-            std::back_inserter(storage));
-    }
-
     file_type get_file_type(std::string const& extension)
     {
         static std::map<std::string, file_type> ftypes;
diff --git a/src/utils.hpp b/src/utils.hpp
index 1326ad4..d4521ad 100644
--- a/src/utils.hpp
+++ b/src/utils.hpp
@@ -11,19 +11,11 @@
 #define BOOST_SPIRIT_QUICKBOOK_UTILS_HPP
 
 #include <string>
-#include <cctype>
-#include <boost/assert.hpp>
-#include <boost/filesystem/v3/path.hpp>
+#include <ostream>
 #include <boost/range/algorithm_ext/push_back.hpp>
 #include <boost/range/adaptor/transformed.hpp>
 
-
-namespace quickbook {
-
-    namespace fs = boost::filesystem;
-
-namespace detail
-{
+namespace quickbook { namespace detail {
     void print_char(char ch, std::ostream& out);
     void print_string(std::basic_string<char> const& str, std::ostream& out);
     void print_space(char ch, std::ostream& out);
@@ -45,15 +37,6 @@ namespace detail
     void unindent(std::string& program);
 
     std::string escape_uri(std::string uri);
-    
-    class load_error : public std::runtime_error
-    {
-    public:
-        explicit load_error(std::string const& arg)
-            : std::runtime_error(arg) {}
-    };
-
-    void load(fs::path const& filename, std::string& storage);
 
     // given a file extension, return the type of the source file
     // we'll have an internal database for known file types.
diff --git a/src/values.cpp b/src/values.cpp
index ce55838..7d32cc1 100644
--- a/src/values.cpp
+++ b/src/values.cpp
@@ -7,6 +7,7 @@
 =============================================================================*/
 
 #include "values.hpp"
+#include "files.hpp"
 #include <boost/intrusive_ptr.hpp>
 #include <boost/current_function.hpp>
 #include <boost/lexical_cast.hpp>
@@ -47,12 +48,10 @@ namespace quickbook
         value_node::~value_node() {
         }
         
-        value_node* value_node::store() { return this; }
-
-        file_position value_node::get_position() const { UNDEFINED_ERROR(); }
+        file const* value_node::get_file() const { UNDEFINED_ERROR(); }
+        string_iterator value_node::get_position() const { UNDEFINED_ERROR(); }
         int value_node::get_int() const { UNDEFINED_ERROR(); }
-        std::string value_node::get_quickbook() const { UNDEFINED_ERROR(); }
-        value_node::qbk_range value_node::get_quickbook_range() const { UNDEFINED_ERROR(); }
+        string_ref value_node::get_quickbook() const { UNDEFINED_ERROR(); }
         std::string value_node::get_boostbook() const { UNDEFINED_ERROR(); }
         value_node* value_node::get_list() const { UNDEFINED_ERROR(); }
 
@@ -231,30 +230,6 @@ namespace quickbook
         return *this;
     }
 
-    ////////////////////////////////////////////////////////////////////////////
-    // stored_value
-
-    stored_value::stored_value()
-        : detail::value_counted()
-    {
-    }
-
-    stored_value::stored_value(stored_value const& x)
-        : detail::value_counted(x)
-    {
-    }
-
-    stored_value::stored_value(detail::value_base const& x)
-        : detail::value_counted(x.value_->store())
-    {
-    }
-
-    stored_value& stored_value::operator=(stored_value x)
-    {
-        swap(x);
-        return *this;
-    }
-
     ////////////////////////////////////////////////////////////////////////////
     // Integers
 
@@ -268,7 +243,6 @@ namespace quickbook
             char const* type_name() const { return "integer"; }
             virtual value_node* clone() const;
             virtual int get_int() const;
-            virtual std::string get_quickbook() const;
             virtual std::string get_boostbook() const;
             virtual bool empty() const;
             virtual bool equals(value_node*) const;
@@ -291,11 +265,6 @@ namespace quickbook
             return value_;
         }
 
-        std::string value_int_impl::get_quickbook() const
-        {
-            return boost::lexical_cast<std::string>(value_);
-        }
-
         std::string value_int_impl::get_boostbook() const
         {
             return boost::lexical_cast<std::string>(value_);
@@ -346,46 +315,46 @@ namespace quickbook
         struct value_qbk_string_impl : public value_node
         {
         public:
-            explicit value_qbk_string_impl(
-                    std::string const&, file_position, value::tag_type);
-            explicit value_qbk_string_impl(
-                    quickbook::iterator begin, quickbook::iterator end,
-                    value::tag_type);
+            explicit value_qbk_string_impl(std::string const&, value::tag_type);
+            explicit value_qbk_string_impl(file const&, value::tag_type);
         private:
             char const* type_name() const { return "quickbook"; }
 
             virtual ~value_qbk_string_impl();
             virtual value_node* clone() const;
-            virtual file_position get_position() const;
-            virtual std::string get_quickbook() const;
-            qbk_range get_quickbook_range() const;
+            virtual file const* get_file() const;
+            virtual string_iterator get_position() const;
+            virtual string_ref get_quickbook() const;
             virtual bool is_string() const;
             virtual bool empty() const;
             virtual bool equals(value_node*) const;
-    
-            std::string value_;
-            file_position position_;
+
+            file fake_file_;
         };
 
         struct value_qbk_ref_impl : public value_node
         {
         public:
-            explicit value_qbk_ref_impl(quickbook::iterator begin, quickbook::iterator end, value::tag_type);
+            explicit value_qbk_ref_impl(
+                    file const*,
+                    string_iterator begin,
+                    string_iterator end,
+                    value::tag_type);
         private:
             char const* type_name() const { return "quickbook"; }
 
             virtual ~value_qbk_ref_impl();
             virtual value_node* clone() const;
-            virtual value_node* store();
-            virtual file_position get_position() const;
-            virtual std::string get_quickbook() const;
-            qbk_range get_quickbook_range() const;
+            virtual file const* get_file() const;
+            virtual string_iterator get_position() const;
+            virtual string_ref get_quickbook() const;
             virtual bool is_string() const;
             virtual bool empty() const;
             virtual bool equals(value_node*) const;
 
-            quickbook::iterator begin_;
-            quickbook::iterator end_;
+            file const* file_;
+            string_iterator begin_;
+            string_iterator end_;
         };
     
         struct value_qbk_bbk_impl : public value_node
@@ -393,32 +362,27 @@ namespace quickbook
         private:
             char const* type_name() const { return "quickbook/boostbook"; }
 
-            value_qbk_bbk_impl(
-                std::string const& qbk, std::string const& bbk,
-                file_position const&, value::tag_type);
-            value_qbk_bbk_impl(std::string const&, value::tag_type);
-            value_qbk_bbk_impl(
-                    quickbook::iterator, quickbook::iterator,
+            value_qbk_bbk_impl(file const*,
+                    string_iterator, string_iterator,
                     std::string const&, value::tag_type);
     
             virtual ~value_qbk_bbk_impl();
             virtual value_node* clone() const;
-            virtual file_position get_position() const;
-            virtual std::string get_quickbook() const;
-            qbk_range get_quickbook_range() const;
+            virtual file const* get_file() const;
+            virtual string_iterator get_position() const;
+            virtual string_ref get_quickbook() const;
             virtual std::string get_boostbook() const;
             virtual bool is_string() const;
             virtual bool empty() const;
             virtual bool equals(value_node*) const;
 
-            std::string qbk_value_;
+            file const* file_;
+            string_iterator begin_;
+            string_iterator end_;
             std::string bbk_value_;
-            file_position position_;
             
             friend quickbook::value quickbook::qbk_bbk_value(
-                    std::string const&, quickbook::value::tag_type);
-            friend quickbook::value quickbook::qbk_bbk_value(
-                    quickbook::iterator, quickbook::iterator,
+                    file const*, string_iterator, string_iterator,
                     std::string const&, quickbook::value::tag_type);
         };
 
@@ -463,49 +427,47 @@ namespace quickbook
     
         value_qbk_string_impl::value_qbk_string_impl(
                 std::string const& v,
-                file_position p,
                 value::tag_type tag)
             : value_node(tag)
-            , value_(v)
-            , position_(p)
-        {}
+            , fake_file_()
+        {
+            fake_file_.source = v;
+            fake_file_.path = "(generated code)";
+        }
 
         value_qbk_string_impl::value_qbk_string_impl(
-                quickbook::iterator begin, quickbook::iterator end,
-                value::tag_type tag)
+                file const& f, value::tag_type tag)
             : value_node(tag)
-            , value_(begin, end)
-            , position_(begin.get_position())
-        {}
+            , fake_file_(f)
+        {
+        }
     
         value_qbk_string_impl::~value_qbk_string_impl()
         {}
     
         value_node* value_qbk_string_impl::clone() const
         {
-            return new value_qbk_string_impl(value_, position_, tag_);
+            return new value_qbk_string_impl(fake_file_, tag_);
         }
 
-        file_position value_qbk_string_impl::get_position() const
-            { return position_; }
+        file const* value_qbk_string_impl::get_file() const
+            { return &fake_file_; }
 
-        std::string value_qbk_string_impl::get_quickbook() const
-            { return value_; }
+        string_iterator value_qbk_string_impl::get_position() const
+            { return fake_file_.source.begin(); }
 
-        value::qbk_range value_qbk_string_impl::get_quickbook_range() const
-            { return qbk_range(
-                iterator(value_.begin(), position_),
-                iterator(value_.end())); }
+        string_ref value_qbk_string_impl::get_quickbook() const
+            { return string_ref(fake_file_.source); }
 
         bool value_qbk_string_impl::is_string() const
             { return true; }
 
         bool value_qbk_string_impl::empty() const
-            { return value_.empty(); }
+            { return fake_file_.source.empty(); }
 
         bool value_qbk_string_impl::equals(value_node* other) const {
             try {
-                return value_ == other->get_quickbook();
+                return fake_file_.source == other->get_quickbook();
             }
             catch(value_undefined_method&) {
                 return false;
@@ -515,9 +477,11 @@ namespace quickbook
         // value_qbk_ref_impl
     
         value_qbk_ref_impl::value_qbk_ref_impl(
-                quickbook::iterator begin, quickbook::iterator end,
+                file const* f,
+                string_iterator begin,
+                string_iterator end,
                 value::tag_type tag
-            ) : value_node(tag), begin_(begin), end_(end)
+            ) : value_node(tag), file_(f), begin_(begin), end_(end)
         {
         }
     
@@ -527,22 +491,17 @@ namespace quickbook
     
         value_node* value_qbk_ref_impl::clone() const
         {
-            return new value_qbk_ref_impl(begin_, end_, tag_);
+            return new value_qbk_ref_impl(file_, begin_, end_, tag_);
         }
 
-        value_node* value_qbk_ref_impl::store()
-        {
-            return new value_qbk_string_impl(begin_, end_, tag_);
-        }
+        file const* value_qbk_ref_impl::get_file() const
+            { return file_; }
 
-        file_position value_qbk_ref_impl::get_position() const
-            { return begin_.get_position(); }
+        string_iterator value_qbk_ref_impl::get_position() const
+            { return begin_; }
 
-        std::string value_qbk_ref_impl::get_quickbook() const
-            { return std::string(begin_.base(), end_.base()); }
-
-        value::qbk_range value_qbk_ref_impl::get_quickbook_range() const
-            { return qbk_range(begin_, end_); }
+        string_ref value_qbk_ref_impl::get_quickbook() const
+            { return string_ref(begin_, end_); }
 
         bool value_qbk_ref_impl::is_string() const
             { return true; }
@@ -562,41 +521,20 @@ namespace quickbook
         // value_qbk_bbk_impl
     
         value_qbk_bbk_impl::value_qbk_bbk_impl(
-                std::string const& qbk,
-                std::string const& bbk,
-                file_position const& pos,
-                value::tag_type tag)
-            : value_node(tag)
-            , qbk_value_(qbk)
-            , bbk_value_(bbk)
-            , position_(pos)
-            
-        {
-        }
-    
-        value_qbk_bbk_impl::value_qbk_bbk_impl(
-                quickbook::iterator begin,
-                quickbook::iterator end,
+                file const* f,
+                string_iterator begin,
+                string_iterator end,
                 std::string const& bbk,
                 value::tag_type tag)
             : value_node(tag)
-            , qbk_value_(begin.base(), end.base())
+            , file_(f)
+            , begin_(begin)
+            , end_(end)
             , bbk_value_(bbk)
-            , position_(begin.get_position())
             
         {
         }
     
-        value_qbk_bbk_impl::value_qbk_bbk_impl(
-                std::string const& val,
-                value::tag_type tag)
-            : value_node(tag)
-            , qbk_value_(val)
-            , bbk_value_(val)
-            , position_()
-        {
-        }
-    
         value_qbk_bbk_impl::~value_qbk_bbk_impl()
         {
         }
@@ -604,19 +542,17 @@ namespace quickbook
         value_node* value_qbk_bbk_impl::clone() const
         {
             return new value_qbk_bbk_impl(
-                    qbk_value_, bbk_value_, position_, tag_);
+                    file_, begin_, end_, bbk_value_, tag_);
         }
 
-        file_position value_qbk_bbk_impl::get_position() const
-            { return position_; }
+        file const* value_qbk_bbk_impl::get_file() const
+            { return file_; }
 
-        std::string value_qbk_bbk_impl::get_quickbook() const
-            { return qbk_value_; }
+        string_iterator value_qbk_bbk_impl::get_position() const
+            { return begin_; }
 
-        value::qbk_range value_qbk_bbk_impl::get_quickbook_range() const
-            { return qbk_range(
-                iterator(qbk_value_.begin(), position_),
-                iterator(qbk_value_.end())); }
+        string_ref value_qbk_bbk_impl::get_quickbook() const
+            { return string_ref(begin_, end_); }
 
         std::string value_qbk_bbk_impl::get_boostbook() const
             { return bbk_value_; }
@@ -643,14 +579,14 @@ namespace quickbook
         }
     }
 
-    value qbk_value(iterator x, iterator y, value::tag_type t)
+    value qbk_value_ref(file const* f, string_iterator x, string_iterator y, value::tag_type t)
     {
-        return value(new detail::value_qbk_ref_impl(x, y, t));
+        return value(new detail::value_qbk_ref_impl(f, x, y, t));
     }
 
-    value qbk_value(std::string const& x, file_position pos, value::tag_type t)
+    value qbk_value(std::string const& x, value::tag_type t)
     {
-        return value(new detail::value_qbk_string_impl(x, pos, t));
+        return value(new detail::value_qbk_string_impl(x, t));
     }
 
     value bbk_value(std::string const& x, value::tag_type t)
@@ -658,16 +594,11 @@ namespace quickbook
         return value(new detail::value_string_impl(x, t));
     }
 
-    value qbk_bbk_value(std::string const& x, value::tag_type t)
-    {
-        return value(new detail::value_qbk_bbk_impl(x,t));
-    }
-
     value qbk_bbk_value(
-            iterator x, iterator y,
+            file const* f, string_iterator x, string_iterator y,
             std::string const& z, value::tag_type t)
     {
-        return value(new detail::value_qbk_bbk_impl(x,y,z,t));
+        return value(new detail::value_qbk_bbk_impl(f,x,y,z,t));
     }
 
     //////////////////////////////////////////////////////////////////////////
@@ -789,7 +720,6 @@ namespace quickbook
 
             virtual ~value_list_impl();
             virtual value_node* clone() const;
-            virtual value_node* store();
             virtual bool empty() const;
             virtual bool equals(value_node*) const;
 
@@ -825,35 +755,6 @@ namespace quickbook
             return new value_list_impl(*this);
         }
 
-        value_node* value_list_impl::store()
-        {
-            value_node* pos = head_;
-            boost::intrusive_ptr<value_node> new_node;
-
-            for(;;) {
-                if(pos == &value_list_end_impl::instance)
-                    return this;
-                new_node = pos->store();
-                if(new_node.get() != pos) break;
-                pos = pos->next_;
-            }
-
-            value_list_builder build;
-
-            value_node* pos2 = head_;
-
-            for(;pos2 != pos; pos2 = pos2->next_)
-                build.append(pos2);
-
-            build.append(new_node.get());
-            pos2 = pos2->next_;
-
-            for(;pos2 != &value_list_end_impl::instance; pos2 = pos2->next_)
-                build.append(pos2->store());
-
-            return new value_list_impl(build, tag_);
-        }
-
         bool value_list_impl::empty() const
         {
             return head_ == &value_list_end_impl::instance;
diff --git a/src/values.hpp b/src/values.hpp
index e24c98e..8111a6e 100644
--- a/src/values.hpp
+++ b/src/values.hpp
@@ -16,14 +16,13 @@
 #include <cassert>
 #include <boost/scoped_ptr.hpp>
 #include <boost/iterator/iterator_traits.hpp>
-#include <boost/range/iterator_range.hpp>
 #include <stdexcept>
 #include "fwd.hpp"
+#include "string_ref.hpp"
 
 namespace quickbook
 {
     struct value;
-    struct stored_value;
     struct value_builder;
     struct value_error;
 
@@ -40,7 +39,6 @@ namespace quickbook
 
         public:
             typedef int tag_type;
-            typedef boost::iterator_range<quickbook::iterator> qbk_range;
 
         protected:
             explicit value_node(tag_type);
@@ -49,12 +47,11 @@ namespace quickbook
         public:
             virtual char const* type_name() const = 0;
             virtual value_node* clone() const = 0;
-            virtual value_node* store();
 
-            virtual file_position get_position() const;
-            virtual std::string get_quickbook() const;
+            virtual file const* get_file() const;
+            virtual string_iterator get_position() const;
+            virtual string_ref get_quickbook() const;
             virtual std::string get_boostbook() const;
-            virtual qbk_range get_quickbook_range() const;
             virtual int get_int() const;
 
             virtual bool check() const;
@@ -89,7 +86,6 @@ namespace quickbook
             typedef iterator const_iterator;
             typedef value_node::tag_type tag_type;
             enum { default_tag = 0 };
-            typedef boost::iterator_range<quickbook::iterator> qbk_range;
 
         protected:
             explicit value_base(value_node* base)
@@ -112,12 +108,12 @@ namespace quickbook
 
             // Item accessors
             int get_tag() const { return value_->tag_; }
-            file_position get_position() const
+            file const* get_file() const
+            { return value_->get_file(); }
+            string_iterator get_position() const
             { return value_->get_position(); }
-            std::string get_quickbook() const
+            string_ref get_quickbook() const
             { return value_->get_quickbook(); }
-            qbk_range get_quickbook_range() const
-            { return value_->get_quickbook_range(); }
             std::string get_boostbook() const
             { return value_->get_boostbook(); }
             int get_int() const
@@ -134,7 +130,6 @@ namespace quickbook
             // value_builder needs to access 'value_' to get the node
             // from a value.
             friend struct quickbook::value_builder;
-            friend struct quickbook::stored_value;
         };
         
         ////////////////////////////////////////////////////////////////////////
@@ -237,16 +232,6 @@ namespace quickbook
         void swap(value& x) { detail::value_counted::swap(x); }
     };
     
-    struct stored_value : public detail::value_counted
-    {
-    public:
-        stored_value();
-        stored_value(stored_value const&);
-        stored_value(detail::value_base const&);
-        stored_value& operator=(stored_value);
-        void swap(stored_value& x) { detail::value_counted::swap(x); }
-    };
-
     // Empty
     value empty_value(value::tag_type = value::default_tag);
 
@@ -254,14 +239,10 @@ namespace quickbook
     value int_value(int, value::tag_type = value::default_tag);
 
     // Boostbook and quickbook strings
-    value qbk_value(iterator, iterator, value::tag_type = value::default_tag);
-    value qbk_value(std::string const&,
-            file_position = file_position(),
-            value::tag_type = value::default_tag);
+    value qbk_value_ref(file const*, string_iterator, string_iterator, value::tag_type = value::default_tag);
+    value qbk_value(std::string const&, value::tag_type = value::default_tag);
     value bbk_value(std::string const&, value::tag_type = value::default_tag);
-    value qbk_bbk_value(std::string const&,
-            value::tag_type = value::default_tag);
-    value qbk_bbk_value(iterator, iterator, std::string const&,
+    value qbk_bbk_value(file const*, string_iterator, string_iterator, std::string const&,
             value::tag_type = value::default_tag);
 
     ////////////////////////////////////////////////////////////////////////////
diff --git a/src/values_parse.hpp b/src/values_parse.hpp
index a65a3fd..7ae3196 100644
--- a/src/values_parse.hpp
+++ b/src/values_parse.hpp
@@ -57,22 +57,20 @@ namespace quickbook {
             typedef void type;
         };
 
-        value_entry(value_builder& b)
-            : b(b) {}
+        value_entry(value_builder& b, file const** current_file)
+            : b(b), current_file(current_file) {}
 
-        template <typename Iterator>
-        void operator()(Iterator begin, Iterator end,
+        void operator()(parse_iterator begin, parse_iterator end,
                 value::tag_type tag = value::default_tag) const
         {
-            b.insert(qbk_value(begin, end, tag));
+            b.insert(qbk_value_ref(*current_file, begin.base(), end.base(), tag));
         }
 
-        template <typename Iterator>
-        void operator()(Iterator begin, Iterator,
+        void operator()(parse_iterator begin, parse_iterator,
                 std::string const& v,
                 value::tag_type tag = value::default_tag) const
         {
-            b.insert(qbk_value(v, begin.get_position(), tag));
+            b.insert(qbk_value(v, tag));
         }
         
         void operator()(int v,
@@ -82,6 +80,7 @@ namespace quickbook {
         }
 
         value_builder& b;
+        file const** current_file;
     };
 
     struct value_reset
@@ -114,11 +113,11 @@ namespace quickbook {
 
     struct value_parser
     {
-        value_parser()
+        value_parser(file const** current_file)
             : builder()
             , save(builder)
             , list(builder)
-            , entry(builder)
+            , entry(value_entry(builder, current_file))
             , reset(builder)
             , sort(builder)
             {}
diff --git a/test/unit/Jamfile.v2 b/test/unit/Jamfile.v2
index 19b4d1a..3871fbb 100644
--- a/test/unit/Jamfile.v2
+++ b/test/unit/Jamfile.v2
@@ -9,12 +9,14 @@
 import testing ;
 
 project quickbook-unit-tests
-    : requirements <include>../../src <warnings>all
+    : requirements
+        <include>../../src
+        <warnings>all
+        <library>/boost//filesystem
     ;
 
-run values_test.cpp ../../src/values.cpp ;
+run values_test.cpp ../../src/values.cpp ../../src/string_ref.cpp ;
 run post_process_test.cpp ../../src/post_process.cpp ;
-run iterator_tests.cpp ../../src/values.cpp ;
 
 # Copied from spirit
 run symbols_tests.cpp ;
diff --git a/test/unit/iterator_tests.cpp b/test/unit/iterator_tests.cpp
deleted file mode 100644
index c163ace..0000000
--- a/test/unit/iterator_tests.cpp
+++ /dev/null
@@ -1,71 +0,0 @@
-/*=============================================================================
-    Copyright (c) 2011 Daniel James
-
-    Use, modification and distribution is subject to the Boost Software
-    License, Version 1.0. (See accompanying file LICENSE_1_0.txt or copy at
-    http://www.boost.org/LICENSE_1_0.txt)
-=============================================================================*/
-
-// Use boost's iterator concept tests for our iterators.
-
-#include "fwd.hpp"
-#include "values.hpp"
-#include <boost/iterator/new_iterator_tests.hpp>
-#include <boost/iterator/iterator_concepts.hpp>
-#include <boost/concept_check.hpp>
-
-void iterator_concept_checks()
-{
-    typedef quickbook::iterator Iter;
-    boost::function_requires< boost::ForwardIterator<Iter> >();
-    boost::function_requires< boost_concepts::ReadableIteratorConcept<Iter> >();
-    boost::function_requires< boost_concepts::LvalueIteratorConcept<Iter> >();
-    boost::function_requires< boost_concepts::ForwardTraversalConcept<Iter> >();
-}
-
-void value_iterator_concept_checks()
-{
-    typedef quickbook::value::iterator Iter;
-    boost::function_requires< boost::ForwardIterator<Iter> >();
-    boost::function_requires< boost_concepts::ReadableIteratorConcept<Iter> >();
-    boost::function_requires< boost_concepts::ForwardTraversalConcept<Iter> >();
-}
-
-void iterator_runtime_checks()
-{
-    std::string x = "Hello World";
-
-    quickbook::iterator i1(x.begin(), quickbook::file_position(10, 5));
-    quickbook::iterator i2(++x.begin(), quickbook::file_position(10, 6));
-    
-    boost::forward_readable_iterator_test(i1, i2, 'H', 'e');
-    boost::constant_lvalue_iterator_test(i1, 'H');
-}
-
-void value_iterator_runtime_checks()
-{
-    quickbook::value v1 = quickbook::bbk_value("a", 10);
-    quickbook::value v2 = quickbook::int_value(25, 32);
-
-    quickbook::value_builder b;
-    b.insert(v1);
-    b.insert(v2);
-    quickbook::value x = b.release();    
-
-    quickbook::value::iterator i1 = x.begin();
-    quickbook::value::iterator i2 = ++x.begin();
-
-    boost::forward_readable_iterator_test(i1, i2, v1, v2);
-}
-
-int main()
-{
-    // I know I don't have to run the concept checks.
-    // I'm a bit irrational like that.
-    iterator_concept_checks();
-    value_iterator_concept_checks();
-    iterator_runtime_checks();
-    value_iterator_runtime_checks();
-
-    return boost::report_errors();
-}
diff --git a/test/unit/values_test.cpp b/test/unit/values_test.cpp
index 1b24354..8747f40 100644
--- a/test/unit/values_test.cpp
+++ b/test/unit/values_test.cpp
@@ -13,6 +13,7 @@
 #include <boost/range/algorithm/equal.hpp>
 #include <vector>
 #include "values.hpp"
+#include "files.hpp"
 
 void empty_tests()
 {
@@ -24,11 +25,13 @@ void empty_tests()
 
 void qbk_tests()
 {
-    std::string src = "Source";
-    quickbook::value q = quickbook::qbk_value(
-        quickbook::iterator(src.begin()),
-        quickbook::iterator(src.end()));
-    BOOST_TEST_EQ(q.get_quickbook(), src);
+    quickbook::file fake_file;
+    fake_file.source = "Source";
+    quickbook::value q = quickbook::qbk_value_ref(
+        &fake_file,
+        fake_file.source.begin(),
+        fake_file.source.end());
+    BOOST_TEST_EQ(q.get_quickbook(), fake_file.source);
 }
 
 void sort_test()
@@ -79,59 +82,6 @@ void multiple_list_test()
     BOOST_TEST(!l2.check());
 }
 
-void store_test1()
-{
-    quickbook::stored_value q;
-    
-    {
-        std::string src = "Hello";
-        quickbook::value q1 = quickbook::qbk_value(
-            quickbook::iterator(src.begin()),
-            quickbook::iterator(src.end()),
-            5);
-
-        BOOST_TEST_EQ(q1.get_quickbook(), "Hello");
-        q = q1;
-        BOOST_TEST_EQ(q.get_quickbook(), "Hello");
-        BOOST_TEST_EQ(q1.get_quickbook(), "Hello");
-    }
-
-    BOOST_TEST_EQ(q.get_quickbook(), "Hello");
-}
-
-void store_test2_check(quickbook::value const& q)
-{
-    quickbook::value_consumer l1 = q;
-    BOOST_TEST(l1.check(5));
-    BOOST_TEST_EQ(l1.consume(5).get_quickbook(), "Hello");
-    BOOST_TEST(l1.check(10));
-    BOOST_TEST_EQ(l1.consume(10).get_boostbook(), "World");
-    BOOST_TEST(!l1.check());
-}
-
-void store_test2()
-{
-    quickbook::stored_value q;
-    
-    {
-        quickbook::value_builder list1;
-        std::string src = "Hello";
-        list1.insert(quickbook::qbk_value(
-            quickbook::iterator(src.begin()),
-            quickbook::iterator(src.end()),
-            5));
-        list1.insert(quickbook::bbk_value("World", 10));
-        
-        quickbook::value q2 = list1.release();
-
-        store_test2_check(q2);
-        q = q2;
-        store_test2_check(q);
-        store_test2_check(q2);
-    }
-    store_test2_check(q);
-}
-
 void equality_tests()
 {
     std::vector<quickbook::value> distinct_values;
@@ -165,8 +115,6 @@ int main()
     qbk_tests();
     sort_test();
     multiple_list_test();
-    store_test1();
-    store_test2();
     equality_tests();
 
     return boost::report_errors();