I notice there is a bit of bitching happening from some developers about not getting their application processed quickly enough - and whilst I sympathise - does everything think that maybe Apple is having an administration nightmare processing 250,000 downloads and 25,000 full applications ?
The acceptance time for new apps seems to be OK. The problem for a lot of us is that updates to our apps are taking much, much longer to approve than new apps. Nothing bothers a developer more than having a new version of their software that addresses a lot of things the users have wanted but not having any way to deliver it in a timely manner.
My personal situation is that I submitted my app on July 6 and it was approved on July 9. Pretty good turnaround time, nothing to complain about there. On the same day (July 9), I submitted an update that fixed a few small issues I had noticed since I submitted the original version. It is now over a week later and I am still waiting for that update to be reviewed. To make matters worse, I have received great feedback from my users and have made several more improvements/bug fixes since the store opened, and I have another new update ready to go. BUT there is no way to update or delete an already submitted update, so whenever my first update is finally approved, I'll have to wait yet another indeterminate amount of time for my users to have the second, latest update.