Conman,
I had the exact same problem as you with this drive. I was only getting backup speeds of any where from 3-5 MB/min which is extremly slow. To fix the problem, I had to enter the following entry into the windows registry. I am running Windows XP Pro SP1 by the way.
HKEY_Local_Machine\Software\Computer Associates\Brightstor ARCserve Backup\Base\TapeEngine\DEVICE2
Under this key I had to add a new DWORD Value.
Name= DefaultBlockFactor
Type= REG_DWORD
Data=7
Make the data value HEX and just put in 7 for the value.
Above where I have DEVICE2 in the key, you may have other device folders listed. Just click on each one and look for your drive to show up. I have two tape drives show one is under DEVICE2 and the other under DEVICE1.
Once you make the registry entry you will need to reboot your machine. I did this and my backups went from the 3-5 MB/min to 175-200 MB/min. By default, arcserve backs up data in 1KB block sizes. By making this registry entry and setting the data value = 7, you are telling it to backup in 64 KB block sizes. You can set this data value equal to any value 1-7, each corresponding to a block value (1=1KB, 2=2KB, 3=4KB, 4=8KB, 5=16KB, 6=32KB, 7=64KB). A value of 7 is obviously going to give you maximum results.
I hope this helps your problem. It sure helped mine. Feel free to contact me if you have problems or my directions are confusing.