The trick is that it takes far shorter time if you copy 45 GB as a single file into the USB media (because you avoid tens of thousands slower filesystem calls / writes onto the USB media).
Try this method to reduce the copying to a "mere" few hours:
1) Tar up the iPhoto Library. Prefer tar to compression as your JPEG and MOV are already highly compressed, so doing compression would be a waste.
Open up the Terminal in Mac OS. Use "tar -cf your_name.tar your_original_iPhoto_Library".
This took a long enough time for my iPhoto Library, maybe 1 hour.
2) Copy the your_name.tar into the USB. As one big binary blob, the copying is much faster. Takes about 20 mins in my case.
3) At the destination mac, just untar it in a directory of your choosing.
Open up the Terminal. Use "tar -xf your_name.tar". This took less than 1 hour.