Sega is well aware of the of the long loading times that plagues the PS3 version of Bayonetta, and are looking into a the best possible way to fix the problem before the North American version of the game is released.
An inquiry made over at the official Platinum Games boards received a response from Sega that "they were well aware of this issue and are working on a solution."
Another Sega representative made Sega's stance even clearer: