processing b&w film at home doesn't require a lot of space. A tank and a dark box to load it are all you need. And it's _way_ cheaper than a lab.
I don't know if I'd say hand-printing is faster, but I guess it depends on how fussy you are about prints. I mean, you've got to do your test prints, your 'straight' print, then figure out your dodging and burning, though once you've got a good print then making copies is fairly straightforward. But oh man, paper is expensive these days.