As a Canadian I really don't get this. We've had chip and pin here for awhile, and while the initial adoption was a bit rough, it generally works fine.
Reader says "insert chip in the bottom".
You insert chip in the bottom.
Reader says "enter pin".
You enter pin.
I've noticed some readers are slow, but this probably has nothing to do with the chip, the merchant just has a shitty system. If you're talking about the process being slower, ok yeah, by about 10 to 15 seconds or so.
Less secure than the alternatives
What alternatives? Getting a signature that no teller ever verifies or checking the name against your ID (which again, never actually happens)?
Not saying chip and pin is perfect, but I really don't get why this is such a big "disaster".