If boiling glass will sanitize it then theoretically the temperature that is needed to be reached is 212F. If this temperature is reached then why would it matter if you left the glass at this temperature for 1 minute or 100 minutes. Why would you need to bake your bottles for hours. Seemes to me that if you put the bottles in the oven and heated them to 250F and then let them cool back down they would be sanitized.
I don't have it with me but the book Yeast has a paragraph or two talking about the difference in temperature and time needed when using dry heat vs wet heat. The take away for me was to use star-san, the oven is just not designed for sterilizing.
I think handling wet bottles with wet hands can perpetuate crack growth as well...