Improved feedback for find and replace across files

If you have a large project (thousands of files) and/or a complex search regex, the UX for Find and Replace across files is a black hole. When you press the "replace" button, nothing seems to happen. So you press it again. And again. Then, a few minutes later, three dialogs pop up asking you if you want to replace N instances across M files. In the interim, there is no feedback that anything is being done.