Seems that pesky no traction control issue has been sorted out by raikkonen then. It'll be next week before we see how fast he went in comparison but nearly a second faster than massa and 2 seconds over the toyota's.
for comparison last years pole time was: 1:32.652 and Q2 was 1:31.359 by massa.
the all time fastest lap was set by Jeson Button in 2004 during sat practice 2 at: 1:29.552.
Considering the 200bhp extra they had back then and the fact that with the majority of the teams running next week at bahrain we could see that time broken.

1.  Raikkonen     Ferrari              (B)  1:30.455   74
2.  Massa         Ferrari              (B)  1:31.293   72
3.  Trulli        Toyota               (B)  1:32.145   97
4.  Kobayashi     Toyota               (B)  1:32.265   53