Is there a way to speed up the timer that is need for mags to want items and if i can change this will this ruin my drop rates like most mods.

Yes, there is a way. Unfortunately no one has taken the time to make that happen. As long as your mag isn't above level 200 and you don't stack items past their maxium legit value it won't affect the drop rate. However, wouldn't it be easier to just make the lv200 or even a lv0 mag yourself?

i want a more lagit feeling high level mag with the correct levels and blasts.

Legitly, no. I know exactly how you feel. I also feed my mag from lv5 to lv200 as well. There's plenty of guides at psoworld or gamefaqs on how to make the mag you want. Many times I had to switch characters with a different class and section ID to get the PB's I wanted. Here's one example:

http://db.gamefaqs.com/console/gamecube/fi...line_ep12_a.txt

It only takes about 3-5 minutes before you can start feeding it and really doesn't take that long unless you are going for a defense mag. They only need to be in your inventory, you don't have to equip them.

My advice is to focus on the first 50 levels and get the PB you want (as close to the final stats as you can get it, plan ahead). Than worry about their stats afterwards. Good luck.

It justs takes time....me and my friend have made 4 lvl 200's each. All's we do is just do runs through the game, and level up our mags while we do it. I get to about lvl 70 in a day.

i created a trainer where you could feed your mag, as much as you wanted to
without having to wait at all

but i still would just rather create a mag thru item editing