About Re-projection inside of a view.

[Blammo]

All,

I'm sure someone has run into this before, I have need to build a map 
view with Alaska and Hawaii in the same view as the Continental US.  
There will also be the need to rescale both Hawaii (bigger) and Alaska 
(smaller) in the composite view.  I may even need to rotate Alaska 
slightly based on the base projection (Albers)

My quandary is that I have quite a bit of data to augment if I should 
need to go the route of moving/scaling everything for the two States. 
Has anyone experimented with re-projecting the same dataset into new 
positions on the fly, what are the performance hits etc. with this type 
of process, should I even try it, and just reformat the data instead?  
Maybe there is another option for viewing things side by side like this, 
any thoughts would be appreciated. 

Thanks

bobb