Hmmm, well, I'm afraid I'm not going to be much help.
I created a desktop folder with 23 AIFF files and followed the steps you outlined. It imported all of them just fine and they play as expected from iTunes. I didn't time it but I'd guess it took less than two minutes to do the whole 1.04Gb folder.
I'm on a MacBook Pro 2.2gHz Intel Core 2 Duo with 4Gb of RAM running OS X 10.6.1. iTunes is version 9.0.2, like yours.
I don't have any guesses, sorry.
I created a desktop folder with 23 AIFF files and followed the steps you outlined. It imported all of them just fine and they play as expected from iTunes. I didn't time it but I'd guess it took less than two minutes to do the whole 1.04Gb folder.
I'm on a MacBook Pro 2.2gHz Intel Core 2 Duo with 4Gb of RAM running OS X 10.6.1. iTunes is version 9.0.2, like yours.
I don't have any guesses, sorry.