Currently Being ModeratedAug 11, 2013 5:43 AM (in response to mrheavysilence)
Depends on how large your hard drive is. It could take several hours.
Currently Being ModeratedAug 11, 2013 6:15 AM (in response to mrheavysilence)
A minute. Not sure if I have ever read of a successful partition and taking more than two minutes. Ever.
What you can do:
Shrink the HFS volume down and then stretch it back out.
Backup as a clone and then erase and restore so the free space is consolidated / contiguous free space which is required to create a partittion.