Yip it does seem that is the case.
My tests were not able to duplicate your extreme duration for a format.
3 series MIVE, MIVG BIOS FLASH GUIDE
RAID GUIDE * Memtest86+ GUIDE * CAP GUIDE * USB BIOS Flahsback GUIDE * Win8 Rampage Install
ONLY IF 2003 BIOS or NEWER
To Flash back to 1xxx.ROM, Rename 1xxx.rom to ERALL.ROM and Use USB Flashback