Setting animation speed is also available for jailbroken iOS devices, if anyone's interested. The Cydia app is called FakeClockUp. I like setting it to 1.4x.
Is there a recent jailbreak? I googled and am getting lots of paid options, but not sure I trust those...
This is what annoyed me a lot about WP7, too. Long "cool" animations that slow you down with each action you perfor, get boring very quickly, and eventually become frustrating.
On my Android phone, I've even set the animations to be faster than they normally are, precisely because I want stuff to be done fast, not watch a 1-second long animation each time I tap on the screen.