I am currently experimenting with a RAM drive for handling the test run data, using something like the following for creating a 512M RAM disk.
diskutil eraseVolume UFS RAMDisk `hdid -nomount ram://1048576`
sudo chmod g+rwt /Volumes/RAMDisk
export MTR_BUILD_THREAD=auto
export MTR_MEM=/Volumes/RAMDisk
So far, looks pretty good.