Well, with Lightscribe version 1.2 they improved the speed of the labelling process... and a name like 1.2 makes it sound like it's a step in the direction of a version 2.0. If Lightscribe can proove itself as a viable product, I think we'll end up seeing more reasonable labeling speeds.
Unfortunately, we're stuck with the crappy labelling times currently
If they can bring the price down, the Duet printer from Elesys.net looks better. Photo quality labels printed on inkjet media while the disc is still spinning in the recorder. Kind of a trade off between the higher price and the time saved in printing, but if you have a home business, might be an option.