Wow, we never wasted that much time in lab, although usually towards the end of the class session we had at least an hour to kill, but we always accomplished something and covered what was on the syllabus.  Do you feel as though you are not learning the material or that you instructor is not presenting what he/she needs to in order for for you to successfully pass you quiz's and exams?  I think if that's the case then you should definitley say something.  I look at it like this, you are paying for your education and at some point you are going to need to be completely prepared to take the NCLEX if you haven't already, and your state boards.  It is your instructors responsibility, along with your own proactiveness, to make sure that you succeed.