I just logged into a WP site and the timer at the bottom read 1.76 seconds.
I don't know if there's a difference between versions, but the one I checked is the newest version (2.0.4). If you have an older version, upgrading would be a good idea anyway, so it wouldn't hurt to see if it makes a difference.
Also, if you don't already use it, check out the Admin Drop Down Menu plug-in. It creates dynamic menus at the top and can save you quite a few clicks. I have no idea why it's a plug-in and not a standard WP feature.
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