I use the Iron Masters - no experience with Powerblock. I have two dumbbells and one kettlebell. For the dumbbells, I generally use them to go between 25 lbs and 35 lbs. This takes me about 30 seconds per dumbbell, give or take a few seconds. The time is bc I use both 5 lb and 2.5 lb plates, and I hang the unused plates on my storage system to get them out of the way.
Issues: The square-ish shape makes them a bit bulkier than rubber hex dumbbells and I have accidentally knocked them into my knees more than a few times, resulting in small bruises. Also, the knurling on the grips can be rough on my skin during certain moves, like renegade rows, so I wear gloves for those, which can add to the time required for setting up.
FWIW, I was initially resistant to using any kind of adjustable system but there's only so much space for the aforementioned hex dumbbells! Now I think they've been a good investment.