I am currently at IOS 7.0.2 . I am using Iphone5 16 GB & wi-fi
Biggest factor is the speed of your Internet connection.
File size downloaded from iOS device is < 50 MB. Shouldn't take too long.
speed of 7-12 mb/sec
The download would have been completed since you asked this question.
Anything less than 8 mbps is slow...real slow.
Retrieving data ...