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OK, just tested. It went from boot loader to being able to use the GUI in little over 18 seconds. This install has always been a bit slower than my old BeOS machine on booting, for some reason.
It is a really weird BeOS "distro". It uses the Zeta Kernel, drivers, bootloader, and Bone installation with BeOS R5 PE "userland" and all the Haiku replacement components and system hacks and updates (AGP driver and such) as well as OpenTracker.NewFS (OpenTracker.NewFS is a heavily optimized version of OpenTracker that was made to speed up FS operations such as directory listing and file manipulation. It's extremely fast compared to the standard Open/Tracker.). It's a weird beast that works amazingly well ^_^
Heres a link to the Read.Me for my install.
I've updated it a bunch and installed/removed programs, so this isn't totally correct, but it will give you an idea.