When we were waiting, I asked the same question, and many said a month or two, while others said a week. Well, ours (230 points @ OKW, $72/point) took about a month on the dot last October. Hope this helps! Be patient, it will be worth it!
We made our initial offer July 19, and were in the DVC computer and able to make a reservation on August 23. Our ROFR went really fast (just a couple of days), and everything seemed to drag from there, but in reality start to finish was just under 5 weeks. Good luck.
Aug 20: Submitted offer, accepted within 10 minutes!
Aug 22: Contract Received, signed, scanned and sent with deposit
Aug 23: Contracts sent to Disney for ROFR
Aug 30: Passed ROFR!
Sep 5: Received closing documents
Sep 9: Send closing docs with cashier's check to closing company
the time from ROFR to finalization for me was just under 10 days.
But... remember it's not just you (the buyer) and the closing company, it's also the seller - I've heard horror stories from others about how their seller was dragging their feet at closing. I was so very lucky - I used express mail to send the closing documents and $$ to the closing company, and I believe the seller did the same with their papers. All in all, I couldn't have been more pleased.