We estimate our costings based on 100mm/minute for mig, so 1m should take around 10 minutes. MMA will take longer over that distance, due to changing rods etc.
I'd say for short runs its pretty much of a muchness. An experienced Arc welder might even be quicker , as much more metal can be laid down in one go. As for slag removal, if your a 'all in one piece' slag veteran, then its even quicker.
If this was true for every day welding. I would be welding all the buckets. booms, attachments and steelwork we do with stick and not mig. As would all the other fab shops.