I have an app (nowhere near top ranking tho) and I agree with you for the most part. My first submission took 2 days and any updates have taken less than 24 hours. One took less than 6 hours for them to turn it around and get it on the app store.

My only issue with the app store now is the returns. I have had 1 return and all I got from Apple was the form letter that if you have a lot of returns it might be a quality issue. What I would like to see is at least the questionnaire the customer fills out in order for Apple to grant the return. At least this way I can know if it's some sort of serious problem or just someone who made a purchase by mistake.