jp888
Before focusing on timing of questions, I would suggest you identify your specific weak areas (e.g. PS - Combinations, SC - Idioms, etc), and work on strengthening your fundamental knowledge. I found that it wasn't sufficient for me to judge my strengths/weaknesses on an overall basis (e.g. PS/DS/CR/RC/SC) and I had to drill down to the core topic areas instead.
I agree. If you're scoring in the 500s it's probably due to a lack of fundamental knowledge, timing being a secondary factor. You want to get to the point where even if you're guessing, you at least have some understanding of the subject, maybe even being able to eliminate 1 or 2 obviously incorrect answers, and then making an educated guess.
C'mon don't feel demoralized...right now I'm averaging around FIVE to TWENTY minutes on a
MGMAT / OG problem

. Does that make you feel better?

I read the question, go back and read my notes, try the question, think about it, change my answer, and still get it wrong. haha. Compared to the standards on this forum, that's absolutely pathetic.
I'm not even going to worry about timing myself until I've developed a solid base of knowledge on both the Quant and Verbal sections.
Good luck.