My current save file is 16 mb, and I'm having no issues at all.
And wow, five minute load times? Even fifteen minutes?! That is just insane. I honestly had no idea that was the situation for console gamers. That's terrible. I feel really bad for you guys (I mean that seriously, and not in some patronizing pc-snob sort of way). That sounds like it would be incredibly frustrating. Even with all my mods and HD textures, It'll take my comp between 10 and 30 seconds to load, maybe a whole minute on rare occasion. When I first played it pure vanilla, the load times were so fast that I couldn't even read those little loading screen messages because it would be done in two or three seconds. And it's not like I have some monster gaming rig. My computer and graphics card are about 3 years old and were pretty modest even for their time. It's definitely on the low-to-mid tier of gaming systems. I just can't understand why the consoles would take so long to load. That seems crazy to me.