Note that the actual number of iterations in bcrypt is 2^rounds, so for example rounds=5 -> iterations=32, and the default rounds=12 -> iterations=4096. When comparing between bcrypt and pbkdf2, make sure that they mean the same thing when they say "rounds".
General rule on bcrypt is to use the largest value for rounds that you can afford, in terms of user logon not being annoyingly slow. Your test of 0.4 seconds sounds like you have it about right.