Yeah, I think I've got the ARM controller, as I seem to have the features it advertises (4 disk drives, 2 hard drives etc).
Edit: Okay, my bad. I just cracked open the case (first time I've looked at the board since getting it) and it doesn't have the ARM controller that I can tell. Also, upon further checking on minimig.net rather than forums, it looks as though the firmware should be up to date as The latest update looks to be Oct 10 (and the number corrisponds to my firmware) and I only picked up my Minimig a couple of years ago.
You'd know if you had the ARM controller because it replaces the small PIC chip.
In order to upgrade the PIC you'll need to use a null modem serial cable between the Minimig and a PC. I'll have to dig up some instructions. You run a program called TinyBootloader on the PC while will flash the PC for you. If the PIC is up to date then you just need to update the minimig core file on the SD Card.
Before you do any of that though, try a different ADF file (there are multiple ADF versions of the same game out there and not all of them are the same quality).
Get the ARM board and replace that PIC. The speed difference when using HDF files is like night and day. Using large very HDF files without the ARM is next to impossible from a practical point of view.