I reedeemed on 10/19 for 2,500 HHonors points and still don't have them in my HHonors account. The MyPoints website shows the reward as being "fulfilled" on 11/01. When I wrote to MyPoints about it, I got their canned response that it takes 4-6 weeks for a redemption yadda-yadda-yadda.
I'm so fed up with fighting for my points and then fighting for my rewards that I've decided not to use them for this year's holiday shopping unless they're the only rewards program that I can shop thru for a particular merchant.