Apple servers are overloaded. Instead of using App Store, use safari to download the updates manually from apple websites.
Here's a link for OS X 10.10.2 Combo Update.
OS X Yosemite 10.10.2 Combo Update
I had the same issue and downloaded manually from this link. It took me about 30-40 minutes. I'm using a 5mb connection. Your 40mb connection should be faster.
As for the iOS updates, you will have to download them from your iOS devices, because there are no standalone updates for iOS. Alternatively after you update your Mac, use iTunes to download iOS updates by connecting your iOS devices with your Mac. That should be faster than downloading through your iOS devices.