They've bought at least 2 map-related companies so far (Poly9 and C3) and are using existing datasets (e.g. tomtom's), but Apple doesn't actually move really fast: just look at PA Semi, we're only finally seeing their work with the A6 (allegedly, to be confirmed). Apple bought P.A. 4 years ago...
I'm not sure that's a great comparison: four years would seem about right, given PA Semi's main expertise at the time of acquisition was Power rather than ARM. Designing a custom ARM core isn't rocket science, but it's pretty close: plus you've then got to actually get the things fabricated at sufficient yield.
I am not sure they could have done things much quicker to be honest.