raichu,
Are you browsing the deployment folder by using the context menu on the deployed project in the Servers view? If so, you’ll see the packaged form in the installableApps folder, rather than the exploded form in the installedApps folder. Sorry but that’s a bug which will be fixed in a later release.
Regarding the time to deploy, note that the server has to be started before deployment is complete. If the server is already running, deployment is much quicker. Also, you may want to try the in-workspace mode, which is quicker as the application is deployed directly from your workspace rather than copied to the server location.
Please let us know if this helps and sorry for the inconvenience.