"Software Update" seems to take a long time. What's it doing?
Utilities -> Activity Monitor yields:
- CPU usage low ( 1% - 2% ) by the "Software Update" process.
- + network traffic inbound,
[picture of Network activity after starting "Software Update"]

[Network activity after ~30 seconds to ~90 seconds]

[Network activity after ~90 seconds]

*note: pictures modified to remove "Data received: [total] and Data Sent:[total]". Network activity recorded after shutting down all other applications.