If you do not have a drive selected there, the computer has to scan through all the available interfaces where a start up device can be found, including SCSI (if installed), IDE, any network port, and USB. This takes some time to do, so the length of time to start up the computer is extended.
All you need to do is select the appropriate disk in the Startup Disk control panel, on the next restart you should notice an reduction in the amount of time it takes to start up your computer.