Mass Effect was pretty great, wasn't it? Oh, except for those elevator rides masquerading as load screens. Those weren't great. Which is probably why Bioware have remembered to fix them for Mass Effect 2.
Speaking with MTV, Bioware's Ray Muzyka said:
We have a completely new system to handle transitions between areas that speeds the load times and turns the loads themselves into part of the game experience. It's one of many points of feedback we've heard and directly responded to in enhancing the gameplay in Mass Effect 2.
In other words, elevators are going to be used to get somewhere, instead of load somewhere.