Actually, there is no so called "supposed time", that's why we've got people who can solve under 10 seconds and people who uses over 1 minute.
It's depend on your own cubing technique, e.g. finger tricks, algorithms you use, cube you use.

Me myself with LBL, 4 look LL, I can get it done in sub-40, and no it's not good, there are people who can sub-30.

And as for the method, the famous one are Fridrich, Petrus and Roux.

Fridrich method is the method used by most of the top cuber, I would say the top 10 in WCA website are all using Fridrich.

Petrus method is said to use the least step to solve. This method is based on block building, and looking ahead is very important in this solve in order to get good time.

Roux method is similar to Petrus but this method needs to inspect 5 pieces at the starting instead of 4 of Petrus and Fridrich. Also, this method uses M slice very often, in which, change of gripping is less often.

There are hell lots of videos available on youtube which you can find finger tricks, tutorial on each methods, even algorithms,
give some patience to watch them.
For the gripping, I can give some idea here.

For right hander, use your left hand to grip,
hold 4 pieces of bottom left corner(reference to F face) with your left thumb,
you middle finger and ring finger on the opposite site,
free up your index finger in order to push U'.

Basically that's the idea, hope you can get it, watch more videos to get a clearer image.

laliloo i read earlier that you said you are taking along time solving the cross, do you solve the cross with it facing up or down?

i think with 1 turn per seconds you could solve the cube using the lbl method in 3 minutes.

i suggest start practicing with the cross facing the bottom. it certainly improved my time alot. this way, not only you save time turning the cube when you go into the 2nd layer but you have abetter view of the cube and can search for the edge for the first layer much easier

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Added on October 16, 2008, 10:20 amsorry experience very long never visit this thread didnt reply you. erm im using the 4looklast layer. the f2l may seems intuitive at first but try applying the algrothims more and will somehow automatic di one. my problem is looking ahead T_T.

so much algorithm to memorise, even more assignments by the uni T_T

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Added on October 16, 2008, 10:21 ameh who is the cempaka dude? yeah i was from there!

I just bought a rubik's cube from toys'r'us, I messed it and have no idea how to solve it.

I thought all algos that displayed are for cross on the btm?

learn it intuitively(logic)...so u no need any algorithms for cross and first two layers...

im having my best cube right now...haha...

diy type d + type-a core + cubesmith tiles + crc silicon lube inside...but still can't get below 50 s..lol