Here is a history of my application:
09/11/2010 Online application completed
11/06/2010 Class completed
11/08/2010 Paperwork mailed
12/09/2010 Plastic in-hand
Looks like it took right at one month to process my application.
It was an exercise in frustration to check the online status just about every day.
I checked it today and it still says "Waiting on the receipt of required materials," even though I have the plastic in hand!
So to those still waiting, hang in there, your day will come!