Using Disk Utility in Command + R:
To convert internal partition (500GB) of HD to APFS took a few seconds. Cool!
I thought this was awesome. I wrongly assumed my 2TB Time Machine (USB 3) would take just a few minutes. The first third of the progress bar was rather quick, but the second third had taken 6 HOURS. It was crawling, like watching grass grow. I was thinking I could have driven to Best Buy, bought a new drive, format it to APFS and copy Time Machine over to it in far less time. It was doing some sort of pre-inspection report to be sent to Apple. It hadn't even started yet! (Note: the Mac is unusable during this time.)
I couldn't wait. At that rate, it wouldn't finish until after midnight (assuming there isn't a 6+ hour post-install report to be sent, too). This wouldn't be so bad if there was an estimated time below the progress bar warning me. I had tasks to do like important emails, so I Restarted my Mac.
With Time Machine taking so long (longer than any update should, longer than transmitting the entire contents as if on dial-up) and the boot drive being grayed out (later, finding everyone else trying to update to APFS was met with this confusing decision by Apple), APFS has me urging people NOT to try this. Without an APFS on the boot drive, any advantage is completely lost.
(I'm having MS Windows, hours long, reinstall flashbacks from my tech days.)