Ah ok, thank you! I also changed my flavor from core to minimal, and that helped significantly as well.
I was looking to switch from Gentoo to Funtoo, mostly due to speedups in the portage system, but in installing the basic stage3 noticed that it is around 400-500MiB, which is about twice as much data as the Gentoo stage3. I'm curious as to what that extra space is used for, and how it can be removed. My guess is that there is some default setups designed to make the install process a bit easier, but I would rather have a very minimal stage3 if possible.