Hello,
you cannot judge the download speed from the size of the .elf file: the elf file contains debugging and symbol information. Only the code will be downloaded to the target. To know the code size you will need a dump/inspection utility or simply have a look at the map file of the linker.
For actual download speed (with eclipse based CodeWarrior) see
http://mcuoneclipse.wordpress.com/2012/02/26/men-in-black-are-back-flashing-and-fxing/
BK