Have you tried the USB stick somewhere else, to see if it works faster on another machine?
Most probably wit will be that the flash drive itself (not the USB connector on board) is very slow and may be one of the cheaper ones.
Most USB flash drives I have seen, that report their write and read speeds on the packaging claim to have a maximum read speed of 8MB/s and a maximum write speed of 2-4MB/s.
My USB flash drive seems to have an approximate write speed of 4MB/s on an early 2008 white MacBook.
Here are the specs from System Profiler (I'm using 10.6.1 btw.):
Spaceloop 4GB:
Capacity: 4.08 GB (4,083,154,944 bytes)
Removable Media: Yes
Detachable Drive: Yes
BSD Name: disk3
Product ID: 0x6387
Vendor ID: 0x058f (Alcor Micro, Corp.)
Version: 1.01
Serial Number: 51758C35
Speed: Up to 480 Mb/sec
Manufacturer:
Location ID: 0xfa200000
Current Available (mA): 500
Current Required (mA): 100
Partition Map Type: Unknown
S.M.A.R.T. status: Not Supported