How long should it take to back up iPhone to Macbook?

I just backed up my iPhone and was shocked that it only took between 1 and 2 minutes. I backed it up to my MacBook using iTunes and I followed the instructions on how to check if the backup was done, and it says it was done....but does ANYTHING really take just two minutes any more? Does the short backup time mean that something went wrong?

Also, where can I *see* all the files that were backed up?

Thanks!