I'm not seeing the behavior you describe, but this may help me to figure out what is going on.
Run the following command in your terminal window.
defaults write com.macromates.textmate latexDebug 1
Then run typeset & view again from TextMate. This may help identify where the delay is coming from. Please send me the output in an offlist email and if you can, identify where the delays are.
After you have run typeset & view with debug on you can turn it off again with:
defaults write com.macromates.textmate latexDebug 0
Brad,
Thank you for your message. I apologize for the delay, Mail.app decided that texmate-list was spam.
I will send you the information in a private email for interest, but the problem seems to have cleared itself up. In the meantime, I had removed some unwanted bundles, reset textmate, etc. and now when I typeset the document of interest, it is nearly instantaneous.
Cheers, Brian