@Jonathan Edwards - One of the more clearly defined effects of exercise on the immune system is an increase in complement C4a (the cleaved, inactive part of C4 after it is activated by either C1qr2s2 or via the MBL pathway).
C4a has been found to be elevated very often in ME as well as in "chronic" (post?) lyme syndrome. It's also found in SLE. It is an anaphyotoxin. It also activates mast cells, which have been at times implicated in ME. The idea of mast cell activation logically should lead one to at least consider complement activation.
I have some strong suspicions about involvement of the complement pathways in ME. I think it would be interesting to test ME patients for circulating immune complexes.
C1-Inh deficiency leads to excessive complement activation, including complement C4. One treatment is androgen therapy - so in theory men might be less affected. However, we don't (to the best of my knowledge) see classic hereditary angioedema, which would be expected.
Personally, I do have elevated C4a. Dr. Shoemaker wrote about this a lot, and I think his clinical observations may be correct, but disagree with his (imo) oversimplification of ME as a mold exposure illness. At one point, over a decade ago, a rheum I saw was contemplating a diagnosis of Behcet's, but ultimately didn't think I really fit.
Lots of speculation here of course... just brainstorming.