Yeah, what Mavrick said, but there really is an easy way to approximate it.
Assuming you're using 80 minute blank CDRs - of course 80 minutes is 1X playing time - 80 minutes of playing time is equal to burning at 1X (a little longer actually because of writing lead-in and TOC takes a little bit of time).
So, in theory, we have these numbers:
burning at 2X = 40 minutes
burning at 4X = 20 minutes
burning at 8X = 10 minutes
burning at 16X = 5 minutes
burning at 20X = 4 minutes
burning at 24X = 3 minutes 20 seconds
burning at 32X = 2 minutes 30 seconds
burning at 40X = 2 minutes
Now as Mavrick said, higher speed burners (above 20X) won't get constant speeds all the way through the burn, so a 40X will really burn an 80 minute CD in about 3 minutes. The TOC an Lead-in also take some time so figure on adding 10-40 seconds on each of the above numbers, depending on burner.
So, really, once you're at 16X, you're really only talking about a couple of minutes slower than the fastest 40X. Not really worth it to me for all that extra noise of the faster burner. If you burn an incredible number of CDs, then I guess it may be worth it. I am sticking with 16X Lite-on for awhile.