Traditional is also correct. I don't think one is 'more' correct than the other.
You would be wrong. Codicology is a specific academic study of books, book-making and book publishing. "Traditional" is meaningless in that it can be used to refer to any kind of written dissemination.
And some authors are fine with that wait period, but I am not. It's not just about getting the book out there, but also about real time information about how my books are doing. I don't think I could get used to waiting months, or even years, to find out what my sales numbers are.
I note that my initial response is you can have it fast, cheap, or good. Pick two. This is an aphorism you hear quite a lot in the production departments of printers, publishers, and software companies.
But absent of the snark derived from experience, let me be anecdotal.
My most recent commercially published book was contracted in February of 2011. It's about the iPad 2. The iPad 2 was released on March 11, 2011. Now, I have two co-authors, but still, we had a final ms. by April 12, and had returned galleys by April 19. The book was for sale on May 8, 2011, in print and digital forms. I spotted it in a local bookstore on May 12. This is a book with well over 100 color images; I've known this publisher to have even faster turn around on other, larger books. (You can
see the publisher's page here).
I received an advance, and a bonus for meeting deadlines, and will be receiving royalties for sure on at least the electronic editions.
And in the meantime, I've written other things.
Second Anecdote:
This requires some background. I have some experience in publishing in both editorial and production.
MacAllister wanted to publish an anthology by AW members of spec fic/SF/Horror/Fantasy, with illustrations.
You can read about it here:
http://absolutewrite.com/forums/showthread.php?t=220668
It took longer to produce than my commercially published book, because the actual production team was tiny, and had lives, and moved and was sick, and had a hardware failure in the midst of it all.
I really don't think one is "better" than the other interms of commercial / trade publishing, or self-publishing.
But it does depend a great deal on the book, the writer, the skill set and expectations.