This is the fastest thing I have found using pure python. You can use whatever amount of memory you want by setting buffer, though 2**16 appears to be a sweet spot on my computer.
from functools import partial
buffer=2**16
with open(myfile) as f:
print sum(x.count('\n') for x in iter(partial(f.read,buffer), ''))
I found the answer here Why is reading lines from stdin much slower in C++ than Python? and tweaked it just a tiny bit. Its a very good read to understand how to count lines quickly, though wc -l
is still about 75% faster than anything else.