I don't think they ever really emphasized that load times would be faster than the 360 if you install it. It's not really a huge selling point if it's only a few seconds faster than the 360. The install supposedly makes it load much faster than it would if it were streaming from the BluRay. In fact Capcom thinks it's so much better than that that they don't even have an option to not install it.

I don't have that much stuff on my PS3 anyway, so the chunk of space it takes out doesn't bother me much.

I was fooling around in the demo a little more this morning after I heard about the 'Instant Rev' for Nero, where you tap the Rev button after an attack at a certain time to get one stock of Rev (I don't know if that's the real name for it). You can actually do it after every hit in a combo, and it appears to make the hits faster and stronger. It beats standing there pressing L2 3 or 4 times to get one stock. I got through the 10 minute demo a lot faster using the Instant Rev thing than I did the last couple of times I did it.