Insert speed question

Hello List,

I'm importing some data from Foxpro to Postgres, there is atable wich
contains aprox 4.8 million rows and it size about 830MB. I uploaded it
to Postgres using dbf2pg and worked fine, it tooks about 10-15 minutes.
Now I'm inserting some data from that table to a brand new table in
Postgresql, for that I'm doing insert into ... select from. The point is
inserting this data from one table to another table in Postgresql took
about 35 minutes ago. Is that the expected behavior in Postgres?

BTW both tables have no indices or triggers, my Postgres version is 7.4
running on a dual Xeon 2.8 with 2GB ram and about 11GB available on the
partition where Postgres is Installed.

Settings in postgresql.conf are:

effective_cache_size = 170000 # typically 8KB each
sort_mem = 131072 # min 64, size in KB
checkpoint_segments = 10
shared_buffers = 63000 # min max_connections*2 or 16, 8KB each
max_fsm_relations = 400 # min 10, fsm is free space map, ~40 bytes
max_fsm_pages = 80000 # min 1000, fsm is free space map,
max_locks_per_transaction = 64 # min 10
tcpip_socket = true
max_connections = 128

Thanks in advance

--
Sinceramente,
Josué Maldonado.
"Te dejaré de amar el día que un pintor pinte sobre su tela el sonido de
una lágrima."