I just updated to the latest Ubuntu 10.10 desktop and noticed that boot time is now extremely fast! My Intel Core 2 Duo 2.80GHz laptop with an Intel SSD now boots in 8.6 seconds! That is from boot loader all the way to logged in and ready to use! Nice work Ubuntu! Check out the video if you want to see it in action:
Ubuntu 10.10 will be released in October, 2010 but if you want to check it out now, get the beta.