It is far quicker than the MS one. As a routine, I use CCleaner both to clear history, cookies etc, and the (mild)Registry cleaner. Then run a scan with SAS or MBAM (virus scan automatic daily). Then I defrag. In my case I have OS and programmes on C partition and data on F,so defrag each. NB do not defrag SSD's. Some say it does not need doing, but I think it speeds things up. I do all the above prior to making an ATI image. I defrag about weekly. Very quick with the above software.
By default, Windows 7 will run a disk defrag once a week, usually at a time when it believes you aren't going to be using your computer. I believe the default time is around 3:00 a.m.
Most home users are in bed then, and their computers are turned off, so no defrag will run. You'll need to set your own time for the auto-run, or simply set the defragger running manually, when you want it to occur.
FE - it seems that the Win7 Defrag runs automatically next time you reboot if your machine is off at the scheduled time. I've just been away for a few days and happened to go into Event Viewer this arvo and saw that Defrag has run (for all drives) a short while after booting (the scheduled time was 01:00 on Wednesday).
Also, I see that it isn't listed under Task Scheduler, but that Defrag has its won built in scheduling facility.