Which version of Outlook are you using? On my system, Outlook 2003 loads up in around 5-6 seconds. If I close it and open it up subsequent times, it loads in 2-3 seconds. Do you have any Outlook plug-ins loading?
You may want to check your Task Manager before you start loading Outlook. There may be some other process slowing down your system.
I load up 1 pop account and 2 imap accounts and it’s pretty snappy so it definitely shouldn’t take that long to open a single pop account.
And no, I don’t think the Bluetooth dongle has anything to do with it.