Exponential CD burn times in iTunes 10.6.1 (7) on OS X 10.6.8
According to Wikipedia, the original playing time of an audio CD is 74 minutes.

Longer play durations are achieved by "squeezing" the data tracks closer together. Also, because CDs are written from the inside out, the write speed is much faster on the outer sides of the disc — bigger diameter means more distance travelled in the same time.

So squeezing plus faster writing needs more precision. It’s likely that an older CD writer will struggle (on a pre-OS-level) with the precision requirements, leading to claims of absurd burning times. I think you will be on the safe side when burning shorter CDs. I hope this helps!