The limit's fluctuated up and down a lot. If you wanted to talk about bad, it was only, IIRC, 15 seconds at one point, but when combined with a "10-quotes-per-post" limit (not sure if it's still here; I assume it is) it made it particularly painful when responding to a tech thread required an average of 10+ posts. So it took a while to write them all up, and then a bit of time to wait for the cooldown before I could post each subsequent part. (and it's not like these individual posts were short, either; they typically ranged at 5,000+ words each) Now think of making 2,000+ posts that way.

At any rate, with luck the cooldown timer will be lowered again... Or (unlikely) they'd take the suggestion that's been given since they first implemented flood control, and "tier" it for different accounts. One can safely assume that the multi-year-old patriachs and arch-patriarchs aren't likely to be spammers, but brand-new joiners might be the highest-risk for that.
While post flood-control was something that could be tolerated, (necessary evil and all that) SEARCH flood-control was always a hair-puller in how frustrating it was. Especially when you made a typo in a search term. I always felt that the control for that should be more coarse: i.e, such as "5 searches in 5 minutes," rather than "1 search in 1 minute."