What kind of transformation does the post_content go thru when wp_insert_post inserts a post_content into wp_posts programmatically?
I'd like to be aware of this before I process 50000 recs into wp_posts?
In reading through the function, I do not see anything that inherently transforms it. I'm relatively certain that there are no transforms (except maybe autop) until the display of the data. I would recommend trying one or two posts, making sure that it's going to insert correctly, and then going all out.
Also, depending on how things are structured, you may run into a pretty severe issue with
Apperance->Menus if you use that many posts, just as a heads up.