What toby said.
Also, there have been some games that copied the core game files to the HDD during the installation process, but left video files on the CD. This was back in the early days of CDROM drives when HDDs were still small. Far too often the video was jerky because the CDROM couldn't read the data from the disk fast enough to keep up with the frame rate (and if you had a really crap video card you'd be hit double, or triple if your CPU was slow. All possible back then).
Faster DVD drives means data bandwidth is greater, but games are being made more complex, graphics more detailed, and thus still more bandwidth is needed. But ultimately as long as a HDD transfers data faster than a CD or DVD drive, it will always be superior. People are picky. Given a loading time of 10 sec versus 15, they'd probably choose 10, especially if it means only a few minutes of install time.
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