Hi mixvio,
I don't want to do Smashwords down because for simple online publishing they are the easiest and the cheapest - no question, but even now I get messages from people asking about minor formatting issues in the iBooks version of Codex that are a direct result of the Smashwords conversion process. The same Word file was uploaded direct to Amazon (and opted out from Smashwords sending it to Amazon) and the conversion was perfect, so I know it's not the Word file.
Also, Smashwords insist that you follow rules that Amazon don't. They detail these on their site but in a nutshell (for best results) you must do this:
1/ Select ALL text and clear paragraph styles (clear formatting).
2/ Set ALL line spacing to SINGLE.
3/ Do not use font sizes larger than 16pt ANYWHERE (Amazon direct will allow whatever size you need, eg. for large headings).
Even then, there will be issues. You only need to download a few of the books on the iBookStore that are published by Smashwords to see the formatting issues that are inherent.
My advice is to opt out of Smashwords putting it up to Amazon. DO IT YOURSELF! It's free and their reporting system is INSTANT. Smashwords tell me they take weeks to update affiliate sales (eg. B&N/Amazon/Apple).
Ultimately, take control yourself. We have perfect ePub files that we test in a number of readers and these will ultimately reach Apple, but Smashwords will NOT allow you to upload an ePub, even if it's better than theirs.
My novel has had a LOT of sales through Amazon direct (I cannot disclose figures for legal reasons). We're also currently swapping between #7 and #8 (Damn you Frankie Boyle, Peter James and Peter Mandelson!!) on the UK iBookstore and still #2 in Mysteries and Thrillers.
Total sample downloads on Smashwords = 190.
Total sales on Smashwords itself = 0.
Total sales on B&N via Smashwords (according to Smashwords reporting) = 0.
Total sales on Kobo via Smashwords (according to Smashwords reporting) = 0.
My gripe is not a lack of sales, just painfully slow reporting (and they pay quarterly as opposed to monthly via Amazon direct) and it is a VERY clever process Smashwords have which is EXCELLENT for most people who want a quick and easy route to online publishing. There's just a couple of things they need to improve to compete with Apple and Amazon, however.
As for "how long will it take to appear on the iBookstore?" - it's pretty quick. They need to approve it for Premium Distribution (which, if you've followed the above rules they will within 2 days or so) and then it will be on the next run - usually about 2-3 weeks away at most.
Hope this helps. Remember, Last Passage (my publisher) are just bench testing the digital market prior to print launch in November. By then they'll know which routes seem to work best and which marketing strategies pay dividends. I'll be happy to share with you anything that Last Passage find out that they don't consider too 'confidential'.
Adey