My previous demo had very long loading time (~4 min). There were many big textures there (usually 1024x1024), most of it in tga format.
To fix it, I changed format to dds, pack mips to texture and moved loading of textures to separate thread. Moreover, only near textures (~50 meters - engine parameter) are loaded and during moving, textures outside of that radius will be unloaded. Small versions of texture (64x64 usually) are used instead of full versions on a distance.
Results - 3-4 sec for loading current outdoor level (~800 000 tris), unlimited number of textures on a level, all in separate thread, important for today's multicore CPUs.