We discuss computational methods for carrying out correlated ab initio elec
tronic structure calculations for large systems. The focus is on two types
of methods: density functional theory (DFT) and localized orbital methods s
uch as local MP2 (LMP2) and a multireference version based upon a generaliz
ed valence bond reference wave function, GVB-LMP2. The computational perfor
mance of both approaches using pseudospectral numerical methods is document
ed, and calculated thermochemical and conformational energetics are compare
d to experimental data.