Hmm, are you sure it's not slow due to your hardware? Because it certainly doesn't take five minutes for ships to engage on my machine. I'm still looking into a megalight-meter conversion, but haven't been able to nail one down that makes sense.
Turbolaser damage has already been increased by 50%.
Seriously though, no research costs 60k-200k and takes 15-50 minutes. If it's taking that long, I'd look into upgrading your processor or something. I have, however, made changes to this already since the release.