@User: There are some which are situation-specific. Above I mentioned using "extract no coupling" which works if you are extracting for LVS, but then you have .ext files that are missing parasitic information so you need to remember to re-extract before doing "ext2spice" if you want parasitics to show up in the output netlist. Adding lots and lots of labels, such as by doing "def read ... -annotate" for a large digital block, is a great way to slow magic down to a crawl. Having the wrong extraction step size in the tech file can slow it down, although you can usually assume that the work of figuring out the optimal step size has already been done for you. Shallower hierarchy results in faster extraction. Cells which overlap other cells slows down extraction.
The best way to reduce extraction time is to complain to me that it is taking way too long, and send me an example. : )