JensenDrive,
Ground fault protection is basically provided to prevent electrical damage to equipment. You have to know what is the maximum permissible energy that the electrical equipment can take before it is damaged (specially during arcing ground faults). We should limit the time allowed for the damaging fault current to flow in circuit, i.e. trip activation be as short as possible before damage occurs!
Here's my take on this matter:
1) Permissible electrical energy is expressed usually in "kW-cycles". I often us the value of Emax= 20,000 kW-cycles (please check if this energy level is okay with your equipment protected)
2.) Systems operating 150V or more wrt groung will have arcing voltages (during SLG) at around 70V-150V. Let's take 100V as the arcing voltage level (ave. of the min and max). Dividing the permissible energy 20,000 kW-cycles with the arcing voltage level 100V will give me 200,000 amp-cycles!
3.) If you know what your maximum phase-to-phase fault current at the CB location, you can deduce the maximum available ground fault say 1/3 of your L-L fault current; For example the available line-line fault on a LV CB location is Ip-p = 25kA, Islg = 8,333A. Dividing the 200,000 amp-cycles permissible by 8,333A will give us the allowable trip time delay of = 24 cycles!
That is less than 0.5 seconds(60 Hz), 0.4 seconds to be exact.
Your specific application may not be the same as mine, but the idea is clear. If you think CB ground fault setting trip delay is too long, you may want additional ground fault relaying that could offer faster shunt trips to your breaker.
Hope this helps!