OK, so after reading the application note (I must admit the analysis theory went largely over my head) my options seem to be:
a) Reducing the emitters IF (dimmer IR LED).
b) Tuning RL to reduce the saturation capacitance at the base of the phototransistor.
I've now tried different values of RL, from 100K to 100R and it seems to make no difference to the turn off time at all, I've also reduled IL down to 10mA (R1 = 380R in my circuit).
According to the datasheet, 100R RL should be down at ~3uS but by my reckoning, I'm like 3 orders of magnitude out with Vcc at 5V. If I was a 200-500us out, that would be fine for my application, but thousands of us just won't do.