optimize table

[Ananda Kumar]

I have a table which adds on a daily basis around 3 million records.
We have a automated stored proc, which deletes 1 million reocrds.
Now the optimize table command takes loot of time for me to defragment the
table.
Is there a any way i can improve the speed of optimize table command.

My mysql version is 5.0.41 and have 16GB RM and 8 CPU's

regards
anandkl