I can almost guarantee it wasn’t faster than airdrop (when it works) is today. I remember using bump on wifi, and it was limited to (shocking) wifi speeds at the time. I have as recently as last week transferred 1GB video files in under 20 seconds using airdrop. That simply was not possible in 2009.
Connection speed, not transfer speed indeed – that was purely network dependent. In any case nobody was transferring 1GB files from their phones at the time :)