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I don't know what you mean by slow, are you talking about page turns? Well LCD ereaders are faster than e-ink. I have an Astak Pocket Pro, and yes there is a little delay while the page flashes but I find it fairly quick and does not impeded my reading at all (by the time I press the page turn button and move my eyes from the bottom of the screen back to the top the page has turned).
E-Ink does not use power while not in use (with the exception of a few models, such as the Kindle and Nook which are rated for number of days). You will find e-ink battery life is generally rated for number of page turns. I tend to read 2-3 hours a day and recharge the reader about every 5-6 weeks, so that well and truly exceeds your 40 hours you are asking about. Bootup time is not an issue as the e-ink doesn't use power between page turns, there is no need to turn it off.
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