There are a lot of myths circulating in the kegging threads. Given the same target volumes of CO2, carbonating a keg at warmer temperatures does not take longer than cold. It also doesn't use more gas. It simply requires a higher pressure. I wouldn't call it "better" to carb at colder temps. The only detriment to carbing at warmer temps is that you can't keep your single pressure regulator at both cold serving pressure and warm carbonating pressures at the same time.
32psi at 70F for three weeks will give you 2.7 volumes of co2.
14psi at 40F for three weeks will give you 2.7 volumes of co2.
Yes, it takes at least that long at chart pressures even though at week 2 you may have 2.3 volumes and week one 1.9 volumes.. It's not linear, it's logarithmic.
Kegs can easily take 60psi. I don't think the pressure reliefs pop until 80 and the vessel itself can go to 120psi but that's really pushing it.