I have a 1.51 firmware PSP (which was once a 1.50 for a good while), and in all the times I have transfered files (including demo manga, thousands of images (literally) of various sizes, dozens of MP3s, and many, many MP4s usually over 20M, I have rarely had a file take anywhere near that long for one file, except when I put a 200M movie file onto it, and that was because my Norton system wanted to take that chance to scan the blasted file...
In short, no. I have heard of simmiliar complaints based on the 1.0 firmware, though I have not confirmed them as of yet.
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