To prove my point, you could try loading some of the USB drivers for DOS or one of the ISA PnP configuration utilities (such as ICU - Intel Configuration Utility), see how fast it boots then!
Also, if you left the network config untouched, it defaults to TCPIP+DHCP, and when DHCP doesn't respond (cable unplugged), it's another 30s delay. Win311 didn't have TCPIP unless you install it manually. It also asks you to configure it during installation - less likely to select DHCP if you don't have it. And then, in Win311, network is started by DOS (NET START in autoexec.bat), not by Windows.