It looks like the issue with your table is that it was created in a lot of small chunks; this takes more work to query, since we spend a lot of time on filesystem operations (listing files and opening them).
Even so, a table the size of yours should not be so slow; BigQuery is currently experiencing high filesystem load that is causing high variability in latency. We're actively working on resolving this one. So that is the first problem.
The second problem is that we probably should do a better job of compacting the table. I've filed an internal bug that we should tweak our heuristics to be a bit more aggressive in compaction.
As a workaround, you can compact the table manually by copying the table in place. In other words, run a SELECT * from ... and writing the output to the same table, using writeDisposition:WRITE_TRUNCATE, destinationTable:<your table> and allowLargeResults:true and flattenSchema:false.
Again, this last step shouldn't be needed, but for now it should improve your situation.