With the time-lag, you have to take into account the rejection rate. Most articles don't get into their first choice journal, and perhaps get into their second or third choice. You can't parallel submit, meaning that the time-lag between finishing the paper, and it getting published in a journal, often ranges between 6 and 18 months.

I understand that Computer Science does have a slightly faster peer review process than other fields. Here is a piece where a leading neuroscientist writes "Today the lag [in my field] between submission and acceptance is often more than a year". http://www.pnas.org/content/early/2013/01/25/201300924.short...

Gamification is an important issue. You should note that the journal's peer review system, based on two people reading a paper, gets gamed. There is the wide-spread practice of defensive citation, where you defensively cite anyone who might conceivably peer review your paper, in order to maximize the chances of its getting accepted. Some people know how to play that game better than others.

One way of handling gamification is to look at the quality of the people interacting with a piece of content, and not just the quantity. This is how Google's PageRank algorithm deals with the issue.

There is also the approach, taken by Twitter and Facebook, of picking out the people's whose judgements you trust, and then letting them act as quality filters. Those systems can be gamed too, but aren't typically gamed to a large extent.