Update from my original post from Nov. 24, 2013: Same ongoing symptoms/problem as described in original post. Today I scheduled and had in-store consult with Apple Genius Bar.
Root Cause was identified as a bad 12W Power Block. Original Lightning to USB cord operates perfectly. This was confirmed by me using just USB to PC docking station as charger and got rapid results ~15-25%+ per hour.
Sidenote: Iphone 5 car charger via lightning also produced excellent charging results of ~10%+/hour....Thats just 12V so that should never outperform the 110V/12W Power Block
Fix: Apple gave me brand new 110V/12W USB/AC power block, I returned to work and promptly plugged into 110/120V wall socket and charged my 32G iPad Air fully from 68% to 100% in 1.5 hours
Problem solved. I should have addressed way sooner but I had better things to do than wait in a Christmas line at an Apple store. I am happy now but this charger was like this out of the box since day one. Make sure you use 12W Power Block only.
I hope this helps other iPad Air users.