That's nice for you, but the last group I was in, for an example, spent five hours creating the mechanical side of their level 1 characters because of decision paralysis.
Holy cow. Okay, I can see why you are looking for something to cut that down.
I guess my question would be, where did their paralysis come from? What choices took them so long, and why? If it's spell choices, you could slim the spell lists down to about 10 first level spells per class. I'd stick with the existing Basic options for classes and races (classic 4), but only show them like levels 1 through 3 when they start making their characters. Cut out variant humans so there's no need to read through feats. Make them stick to the prepackaged equipment rather than buying starting gear. You could even randomly generate spellbooks for the wizards, a la 1e- roll two each random offensive, defensive, and utility spells.
I'd also leave alignment out and assign one after several sessions of play, based on the pc's actions. Assuming you even use it at all.
If you want to really simplify, you could also eliminate choosing backgrounds, and simply assign all starting fighters the soldier background, wizards sage, clerics acolyte, and rogues criminal.
Really simplifying things another step would be to make everyone human until they're familiar enough with the game to make choices a little more quickly.