I don't think mine takes that long normally, although I normally charge overnight. Yes, it can be charged using USB but does take longer than using the mains power adaptor.
I have upgraded mine from 4.0.3 to 4.0.4 from Ployer.cn site but the browsing the net truly sucks. very slow! most of the time keep forcing to close the Browser or wait!!
hopefully new FW or 4.1 will resolve this.