In projects with a large number of labels applied to elements, retrieval of an element history (lshistory -long) often proves to be slow. Cleartool provides the -fmt option which allows the number of labels returned to be limited.
Please consider the attached patch which makes use of the -fmt option to limit the number of labels to 5 (perhaps the actual number could be a parameter via options). The patch also includes modified history parsing logic to handle the formatted response from -fmt and includes changes to the ElementHistory object to add setters.