At SpaceWorld 1996, Nintendo demonstrated a disk version of Super Mario 64 to attendees to showcase the new hardware, the Nintendo 64 Disk Drive, also known as the 64DD. One of the reasons which Nintendo decided to use the 64DD as an external media storage device is its really fast transfer speeds. For explaining that, a Nintendo worker showed us a copy of Super Mario 64 but into a disk (he states that it's the same game, just copied into a disk). We did look very carefully how much did each part in the game to load, and here are the results:
Between the time you insert the disk and the save select screen appears, 2.5 seconds do pass. In this time, the start logo has already loaded, and of course, all the files with the saved stars, coins, etc.
3 seconds for waiting the game to start. That is nearly unnoticeable with the cartridge version.
Takes 2.5 seconds for loading the whole castle, Mario animations, and all that stuff, if you haven't noticed, the game keeps reading data from the disk when you're playing, reading the data on-the-fly.
When you enter into a level, instead of watching the star select sequence, and waiting until the level appears, all the whole level with every object does load in a mere 4 seconds.
If you do compare the loading times with the actual cartridge, most are not noticeable, since the cartridge loading times are very fast too.