Patience... the team is aware how "boring" the loading screen is and have seen the complaints about the load time. (I'm in agreement with the coders, quit the whining. This thing is f'in cool!) My guess from what I've read posted this text is a placeholder to start, otherwise people REALLY would have been bitching about why their box has a black screen for X seconds. Yes, the pause is here to stay due to the fact that the HD needs to init. But I'm sure we'll see something much cooler looking in the future. If we're real lucky, the possibility to inject our own image into the bios... don't hold your breath tho, this latter part is just my speculation.
-Whoopin'