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I plug the camera via USB into the PC then Adobe Bridge copies, converters to DNG and even asks at the end if I would like the memory card erasing. My memory card stores around 700 raw files and is often full yet I have never waited more then 2 hours for them to copy and convert.
As you say you have an old processor which will not let you install modern software, I would say your MAC's performance is to blame here. It may speed things up for you a little (don't expect it to half the time) if you first coped the CR2 files to the PC's HDD via a card reader and then used the DNG converter to convert them on your HDD. This will cut out some of the limits your USB hardware may have although logically it should take the same time but as your preforming one task not two, the computer can give more resources to just the one task.
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