As a case example of how it may occasionally be better in Europe: in England, you can go from Manchester to London in 2h5m, whereas the same drive would take you roughly 3h30m (being generous and assuming that there is no trouble with traffic anywhere along the way). True, the rail travel time needs to have time to/from respective stations added, but there appears to be plenty of spare time for that (1h25m). Maybe certain routes in England are a special cases, due to the density of the population and level of demand, but that said trains in North America have been really disappointing to me, even in the populated bits.
Another point you may be neglecting is that travel time is 'lost' time if you're driving, while you can actually use the time to do any of a multitude of things if you're on a train/flight etc.
"You need tender loving care once a week - so that I can slap you into shape." - Ellyn Mustard