Here's a video showing the difference between PS2 Fast and Normal load speeds:

Time in seconds based off the time between picking your character and loading Construction Yard. The video is just the load times with the time between selecting characters omitted.

PS2 Fast: 14.88 14.92 14.99

PS2 Normal: 18.38 18.37 18.74

PS1 Litterally forever (Need to check again with a better disc)

PS3 19.66 19.70

Emulator 16.37 16.24 16.33