Patrick: Maxim is not talking about reports here, he is talking about the bulk sheet you can download with a listing of all your campaigns, adgroups, creatives, and keywords. Unfortunately the API does not provide us with an easy way to do this (even though as a quick search in this forum will show, it is probably the most frequently requested feature), and the reports do not contain all the data.

Maxim: Yes, traversing through all the adgroups is certainly not quick but 40 hours for 500k keywords sounds a bit too much. Today we did this for an account with 1.5 million keywords in about 6 hours. Are you definitely using getAllCreatives, getAllKeywords (or getCriteria) and not downloading things individualy? Have you profiled your code to make sure that the delay is occurring on the Google side and there is nothing slow in your program?