Just updated. Used a 4gb SDHC card, FAT 32 formatted. Took no time at all. Can't say how long as I went to answer my door but definately less than 5mins.
Hello (1st post)
Got my Caanoo on Saturday from www.gameseek.co.uk (came quickly)
Very pleased so far. Picodrive has run everything I have tried perfectly (not including 32x ;) )
It has played the vast majority of my MAME romset but there seems to be quite a bit of slowdown in a few games...