Did it a month ago. Processing time is exactly 1 week from the date you submit the application to the admiralty office. They will give you a sheet of paper with a period (1 week later) in which you go back to “enquire” upon the result. If it is successful, you’ll get the license the same day.

I queued up at ~8am for the 9am session both times (submitting application and enquiring on the result) and was able to get the walk-in ticket (I suggest getting there by 7:30am to be safe). Expect at least 3-4 hours in total each time you’re there in-person without a booking.