Originally posted by Cat
Not quite, since it will be saved at the rate it is streamed. When downloading regularly the limitation is bandwidh (how hard the server pushes and the client pulls). With iTunes the song gets regularly streamed, so to download a 3 minute song, you get a 3 minute download, regardless of bandwidh. No competition for illegal P2P in speed ...
Instead of googling, try to search some fora, like the MacRumors Forum or iCity. Also there are some Blogs out there which have dissected the protocol.