Yes, it's MUCH faster overall. (One part of the process take longer than in OS 9, the other parts are faster... overall, it's much, much faster.)
If installed on your OS X partition, DW 3 can do SMART hard drive monitoring. So if your hard drive's internal diagnostics think that it's about to die, it'll tell you.
The only other thing is that if you use HFS+ Journaling, DW 3 can use the journal to help fix the directory. DW 2 doesn't understand the journal, and wipes it out. (Norton on OS X will simply kernel panic the machine when it sees a journal.)
tooki