I play on a i-5 @3.1Ghz, 8GB ram, no SSD and loading times for planets like Alderaan and Corellia are about 1 minute or so. My pc is hardly a toaster I'd say, nor is it a monster. My pc runs games like GW2 and Rift way better, both of which look a lot better.
Not only are loading times long, compared to the games I mentioned, there are too many. To get from the fleet to another planet is 2 or 3 loading screens depending on the planet.
And starting the game up takes too long as well. Loading game, takes about 20/30 secs, select character, another loading screen, another 15 secs or so.
The crappy engine I guess.
And I find the toaster argument a weird one. The game doesn't even look that amazing yet you need a monster to perform well?