There is nothing wrong with Launchbox and it works absolutely fine. When you say 45 minutes what are you referring to? Do you mean the media downloads? If so that sounds like a issue connecting to the database on your end, as the database is up and working fine.
I have both Goldeneye 007 and 007 The World Is Not Enough imported just fine for N64, so as i said this sounds more like a issue on your end, is your firewall blocking Launchbox from connecting to the game database?