I've not noticed this issue on my MBP but after that was stolen I got this issue on a now 2 week old i7 Mac Mini. I have however made the following observation on my machine.
When time machine is backing up lot's of little files it crawls, when they're bigger it speeds up to something half decent.
This could be brought about by file system changes in Lion / Mountain Lion or it could be something to do with that way it caches files while writing to disk. It may even be caching while reading from disk in the case of a network drive.
Of course this is only my experience so it may not be the same for others. I'm going to go see what I can find out about HFS and caching in mac, just to see where it leads....