480 Mbps is the peak transfer rate of USB 2.0, not the sustained transfer rate. This is precisely why FireWire 400 (400 Mbps) blows USB 2.0 out of the water: you get very close to 400 Mbps sustained transfer rates.
No, this is incorrect. The only reason the transfer is slow is because of the chipset and / or the protocols used. 480mbps is NOT a PEAK measurement. USB 2.0 however has a bad rep because of all the USB1.1 implementations that have been modified to support USB 2.0 devices, making it seem slow. A good, true USB 2.0 implementation is very fast.
Firewire doesn't blow anything out of the water either. It all depends on the chipset and implementation.
Mac users tend to spout off like this though to make themsleves feel better about being such a miniscule percentage of the tech community. The truth is that Apple has adopted PCI, USB, and Intel processors because they work. Apple then, to their credit, implements good support for these technologies in their products.