If enabled, the startup key protects the following sensitive information:

Master keys that are used to protect private keys.
Protection keys for user account passwords stored in Active Directory.
Protection keys for passwords stored in the registry in the local Security Accounts Manager (SAM) registry key.
Protection keys for LSA secrets.
The protection key for the administrator account password that is used for system recovery startup in safe mode.

I dunt know why it would require you to have a key installed, or for that matter why it would take longer with or without a key. Seems very strange to me. Have you tried contacting MS about it?

Below is an article on how to long in now, without your key, "automatic login" I do it this way.
http://support.microsoft.com/default...;EN-US;q282866
BB