The fact that you're installing from CD-Rom is why it is so slow. Your overall computer may be very fast, but your CD-Rom is limited to a 52x speed usually, and if you have a faster one, up to 56x or 72x speed. The maximum transfer rate is 10,800 K(ilo)b(it)/sec, which comes down to something like... 1,318M(ega)B(yte)/sec. That would be like 532 seconds per CD. Which is about 9 minutes. If you have 52x speed CD-Rom reader it'll read at 0,952MB/sec, making the installation per CD take up to around 12 minutes each.
The processor and graphics card don't have much to do with the installation process. If you would be installing from a hard-disk that has all the files required on the Harddisk (say like installing Wolfenstein: Enemy Territory that you downloaded to your Hard-disk on beforehand) it would be a matter of a minute or two because your Hard Disk has much faster reading/writing ability than your CD-Rom reader.
DVD Readers also have faster capacity, I am not sure if a DVD reader is able to read CD-Rom's faster though, I think they only have faster reading speeds on DVD-Rom's and not with CD's.
When your computer has to do a job involving several parts of your computer, keep the following in mind: "A chain is as strong as it's weakest link".
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