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running a bad piece of any software could be harmful. i assume your sitemap generator was not custom built by a former ddos attacker. if you use any of the common sitemap generators you should be fine.
your server should be able to deal with creating the sitemap. it may be wasting some resources but i am guessing it is probably not significant waste. if you are scheduling this to run every 24 hours (which is probably overkill) you should schedule it to run during your lowest traffic hour (generally middle of the night).
the bigger issue might be your reporting getting distorted. many analytic programs allow you to remove your own ip from reporting. that should remove these extra page views from reporting.
[edited by: CWebguy at 6:24 pm (utc) on Feb. 27, 2009]