the 2600 should finish in less than 30 minutes.
Even so, my 450 mhz p3 doesn't take quite that long... It does take a while, but not an hour.
Make sure you're compiling only what's necessary. I have a feeling you're leaving a lot more options in than are necessary.
Things to check:
is hard drive dma enabled? what else is running?
Also, last but not least -- a watched pot never boils.