An I&R takes a couple hours, depending on how much background research the rigger has to do. How long it will take you to get your rig back is dependent on how busy the rigger is (how many are in front of you in line).
Cost varies, $50 is on the lower end. $75 is more typical.
You can pay an extra "rush" charge to get jumped to the front of the line if you're in a big hurry.