When tracking forward I am getting times around 40secs per frame!. Is this normal on a machine with the following specs?.

Quad Core Q8200 2.33GHz
Memory 6GB 64Bit
ATI Radeon HD3450

Three cameras at 640x480 50fps.

If this is not normal does anybody have any ideas how to address it?.

You need a faster video card for tracking to be faster. Markerless motion capture is very computationally intensive.

Our software is (and always was) GPU-accelerated. Video card speed is most important for tracking speed. As a minimum, we recommend a gaming-class video card like GeForce GTS 250 or Radeon 4850. For best speed, use GeForce GTX 480.

Your video card -ATI Radeon HD3450 - is a low-end video card. Speed difference between low-end and high-end video cards is dramatic. Here are some benchmark numbers for your reference:

GeForce GTX 480 with Intel Core i7 920 CPU (CPU overclocked to 4 GHz): 0.6 seconds per frame
GeForce 8800 GT with Intel Core2 Duo 8500: 2.5 seconds per frame
Your system (ATI Radeon HD3450): 40 seconds per frame

As you can see, GeForce GTX 480 is approximately 50 times faster then your video card. This is explainable because NVIDIA Fermi GPU (the heart of GeForce GTX 480) has approximately 15 times more transistors then low-end video cards. High-end video cards are also much faster then CPUs. A GeForce GTX 480 is approximately 60 times faster then a quad-core Intel CPU when it comes to image processing.

Definitely time for me to upgrade my video card, thanks again for the in depth reply.

Is this version CUDA accelerated by any chance and if not is it in the works to enhance it with CUDA or OpenCL in a future version?