Firewire lol. As if anyone has to save the 5 seconds of time transferring their Torrented music collection. OMG James Bond file transfer. LEETTTTTT.
The speed difference, even today will still amount to a lot more than 5 seconds. When firewire was created, it was BLAZING fast compared to any other transfer option available at the time. Networks were only 10/100MBit (and even that was semi new then), USB was only at 1.1 as a standard, which caps out theoretically at 11MBps and realistically at roughly 8 or 9.
Having Firewire at the time (around 1998, even though firewire actually was introduced in 1995), was INSANELY faster than anything else. Even a direct network connection was only 1/4 the speed of firewire. Yes, nowadays, firewire (at the more common 800MBps, even though there are applications that have firewire that is twice to 4 times that speed) is slower than (the fastest, but not more common) network, and only theoretically twice as fast as USB 2.0, so yeah, for most smaller transfers, NOW, it isnt a big difference in time, but then it was.
My 150GB backup i take weekly of my home server takes about 30 minutes on firewire... USB may take roughly 45 minutes to an hour, not a big save in time, but before USB 2.0, that same job... you would NEVER think to put it over USB, it would take over a day.
You try to back up 10 times that much, say 1 and a half terabytes, you are looking at roughly 5 hours to back up, vs 10 hours over USB. 3 TB is 10 hours over firewire, and 20 hours over USB, now the technology is looking more desireable isnt it. 3TB backup that can still be done overnight at a business, rather then over a weekend. Get the more expensive Firewire that runs 1600 and 3200MBps and the time is further reduced.
Yes there are faster or better backup solutions out there as well but they do cost a good bit of money, firewire is still, to this day one of the cheapest and fastest transfer technologies for large amounts of Data. Of course this could, and probably will change with the advent of USB 3.0's theoretical 4800MBps transfer speed.