I'll inquire in #libuv as soon as @bnoordhuis or someone who actually responds is around. I'm guessing it's #1, given libuv's general preference to avoid "non-positional" APIs or anything with cursors or state that lasts beyond a single `uv_fs_t` request.

You know as much as I do, I'm sure, and if you look in `/test/test-fs.c` in libuv, there's nothing to suggest that it does any kind of paging...