Yeah... By my calculations I was getting about "average" USB 2 speeds and the time recalculated to about 4.5 hours right before I turned off the screen and went to bed for a few hours.
But still, this speed is pretty much unusable!
I've got about 170 GB on my OS drive, 544 GB on one partition (documents and client files) then my music on a third hard drive (510 GB) and a second partition (1.7 TB). So, almost 3 TB of data used (out of 5.5 TB total over the three physical drives). At 34 MB/S it would take over 24 hours just to straight copy the backup files! No idea how long if I had to copy individual files, create the backup files directly to the My Book or create individual backup files prior to copying.
USB 2 caps at 60 MB/S (480 Mbps), but USB 3 should be ten times faster (and USB 3.1 should be twenty times faster). If that 24 hours went down to 2.4, then this all becomes viable. I guess I'll have to call and try to figure out why I'm not seeing those speeds.