UPDATE 2 This is a known bug/feature with the way Ruby 1.9.2 loads files. http://twitter.com/#!/rails/status/72801149769621504
update:
Since this is a fairly old question: Have you tested it with the release version of Rails 3?
That is a long time but ultimately meaningless. My rails apps stay up for months at a time so that is a fraction of a fraction of 1 percent of the total runtime.
Do you have a ton of dependencies that Bundler has to deal with? I can get my Rails 3 app started in less than 2 seconds in any environment, but I use very few third party gems.