Looking at those numbers, it would seem that what Sony are doing is what would be called Hibernate (memory saved to disk, virtually everything unpowered) on a Windows machine unless a download is active at which point it is more similar to Sleep mode, except with a few differences. So in addition to memory being powered as in sleep mode, the ARM chip is probably also kept powered on while the rest of the system is unpowered.
That would explain why Standby without active download takes longer than a cold boot. A thin OS like a console OS isn't going to impact cold boot times in the way a full OS would (although oddly, minus BIOS on power up that's slower to boot than Windows 8). But if you're having to also load up to 8 GB of data off the HDD at the same time that's going to make boot take a tad bit longer.
Regards,
SB