1. I wiped my old Acer w/ P3 600 MHz, 256MB RAM and the stock 11GB 4200 RPM drive and after the OS install I still needed drivers for motherboard, video, audio and I forget what else.
Your post didn't tell if you've installed the OS "proper."
2. After all that the boot time would not go to less than 4 minutes in spite of any/all known tweaks and help from BLACK VIPER (see google.)
This gives you an idea that you should be near 4 minutes on a cleaned up boot.
3. Finally I caught a clue about the hard disk being the bottleneck. I ordered an 89 buck 40GB 54000 RPM drive, cloned the OS with GHOST (I had a lot of tweaking time there) and booted with a stopwatch. The boot completed just under 2 minutes.
I'm not writing you will match my 2 minutes but share that you have to dive in.
Bob