I show that for any number of oracle lookups up to about π/4√N, Grover's quantum searching algorithm gives the maximal possible probability of finding the desired element. I explain why this is also true for quantum algorithms which use measurements during the computation. I also show that unfortunately quantum searching cannot be parallelized better than by assigning different parts of the search space to independent quantum computers.
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Christof Zalka (1999) studied this question.