Well this whole process (minus the download times) takes me roughly about 15 minutes (at most) on an AthlonXP 1800 machine with 512 DDR RAM. If you're computer's specs are les than these, it may take a few minutes longer, depending on the difference.
EDIT: Of course, I'm referring to the full set of instructions I posted for setting up a local server (see my signature for link). If you're referring to the amount of time it takes to backup & source in a new database, then 2-5 minutes at most.
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