Wednesday or Thursday makes zero difference. I submitted a Form 1s on Wednesday the 4th of this month and picked it up Friday the 27th. One was signed and dated 10-10-06 the other was dated 10-17-06. (both Tuesdays) I called Patty on Thursday October 19th, and she told me she still had a stack of forms on her desk to work on and get out and mine was among them. So yeah, figure on three weeks or more.
Not too long ago it was typically 5 working days from submittal to CLEO signoff. Of course the BATF/NFA branch was located in D.C. and their approval time was measured in months not weeks. It's now entirely possible to have your NFA transfer or approval go quicker than it takes to get your CLEO sign off.
When submitting your F-1 to BATF&E, don't forget to include your Certification of Compliance and fingerprint cards along with your personal check for $200.00. Oh, and contrary to what the latest F-1 revision states, you mail the entire package to the new USDOJ/NFA branch in Martinsburg, W.V.
Who knows what the next administration may bring. I'd take care of any NFA business now. YMMV