screen flashes despite "set vb t_vb=" in .vimrc

Hi,

I have this line in my .vimrc (which I know is being executed, since
other settings from it are applied)

set vb t_vb=

For some reason, though, I am still getting screen flashes. I must be
overriding this setting with some other setting, but I'm not sure
which. Once I'm in vim, if I manually enter set vb t_vb= again, the
flashing stops.

I pasted my entire .vimrc here: http://www.vpaste.net/RoBDA?

(It also executes .vimrc_local, but that file is empty.)
If you look at it and happen see anything else crazy / inefficient /
deficient / easily improved let me know :)

Thanks,
Ori

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