[Punker]

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it is very reasonable to assume the other player will not be returning

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This is not a reasonable assumption. Do you think your opponent just decided, meh, not worth it, I'm turning off the computer? Of course not - he's disconnected from his ISP or whatever and is probably frantically trying to get back on. It may take 10 minutes, it may take 10 hours.

And while $5 may not be much to you, it might be to this guy. So, he should have every chance to get back and finish. It's not taking you any longer than it would if he decided to take the maximum time every hand and then fold.