For me all the new extras from eye candy to menus, HUD and so forth outweigh the loading times because it is not broken and the quality once your on the other side be it a house or outside area is really amazing. The game is beautiful as it was before but even more now and it's a joy to play as always. If you played the first game you know it's not back and forth, in and out to the point of it being annoying.
I'm 40 years old gamer and have seen it all from even a non turbo 64k game taking 30mins to load on an old Commodore Plus/4. I did notice it took a bit longer to load but the extras kind of make it obvious as to why. There is no RPG on 360 that looks as good as this, Fable still rings of XBOX 180 graphics and lucky for me the game is too geek-ish for my liking. Thats why I play Divinity because I'm more serious and down to earth with my games.
I have a 360 Slim 250G now and the game is installed, region PAL (UK). Here are my times:
Tavern in 14secs
Tavern out 38secs
Chaple in 7secs
Chaple out 40secs
Pig Farmer House in 3secs
Pig Farmer House out 40secs
Loading times are not a issue here. Gives me time to think and plan ahead. To get this game again and the way it is now who cares!?!? It's fantastic!!