I am using a script in Python to collect data from a PIC microcontroller via serial port at 2Mbps.
The PIC works with perfect timing at 2Mbps, also the FTDI usb-seri
From the manual:
Possible values for the parameter timeout: … x set timeout to x seconds
and
readlines(sizehint=None, eol='\n') Read a list of lines, until timeout. sizehint is ignored and only present for API compatibility with built-in File objects.
Note that this function only returns on a timeout.
So your readlines will return at most every 2 seconds. Use read() as Tim suggested.