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I updated mine around 10:30 AM PST today. Total of everything was about 1.75 hrs before it was ready to use. I was on my Home network. Everything seems to be working just fine.
 
It took approximately 2 hours to download for me, plus another 15-20min for the installation. This isn't the most convenient, but if you don't need to use your phone, I'd recommend leaving it alone while it downloads. My phone was downloading the update faster whenever I wasn't using it...
 
Mine is stuck at ca 30% saying '21 minutes remaining' for three hours now... With everything connected as it should be. I guess I'll just hope for it to be done by morning.
 
I updated around 7pm GMT and it took 20 minutes to download. The actual updating took around 45 minutes although I didn't actually time it.
 
going on an hour for me and not even halfway done... Is this the norm?
This update has been crap. 1 1/2 hours to download to the phone, then 1 hour to the watch , then an Unable to Verify Update message. Now it' s doing another 1 hour copy to the phone.
 
I posted about this in another thread but the update process for Apple Watch is stupidly slow and incompetent.

When I loaded Beta 1 onto my watch back in June it look around 3 hours and it hasn't gotten any faster. Even sitting inside an Apple store the last beta update took 2 hours.

Apple should make the watch connect to wifi directly and download instead of bluetoothing 500MB from the phone to watch. Most stupid process ever.
 
Ooh, mine was still showing 21 minutes/60% left but then suddenly vibrated and is now on the reboot screen with the Apple symbol and the circle around it slowly filling up! Has filled up to ca 50% in about ten minutes. Come on... I'm like a school boy at Christmas :p

So far about 5 hours total...
 
Ooh, mine was still showing 21 minutes/60% left but then suddenly vibrated and is now on the reboot screen with the Apple symbol and the circle around it slowly filling up! Has filled up to ca 50% in about ten minutes. Come on... I'm like a school boy at Christmas :p

So far about 5 hours total...

Zoiks! Mine took 2 hours start to finish!
Hopefully it speeds up for you soon! :)
 
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For the update time, how much of that was spent "Verifying...". The download and preparing steps went pretty quickly. But, Verifying, dear god. About an hour now.
 
One more data point:

I set mine to download before I went to bed last night and it said that it would take two hours. Six hours later when I woke up, the iPhone was saying "verifying".

After going out and back in to the Software Update view, it suddenly changed back to saying 1.0.1 was the latest version and no software update was available. Going in and out a few times, it eventually said 2.0 was available and to Download and Install. I thought I'd have to download the entire thing again, but after trying to start it a few times (after entering the passcode it would just drop back to the Software Update screen like nothing had happened), it finally started and went straight to the Preparing step, then installed in about 15 minutes.

So it seems it had downloaded it overnight but failed to prepare and verify it, but kept the download on the iPhone to transfer to the Watch the next time I tried it. All good now and running smoothly!
 
Took about 45 minutes to download.

Tried installing and stuck on verifying for about 15 minutes now...WTF
 
Took about 45 minutes to download.

Tried installing and stuck on verifying for about 15 minutes now...WTF
I had to wait like 5 hours for the download, but then the update process kicked in automatically. When the watch rebooted and showed the update circle gradually filling up, I didn't dare touch my phone... Not sure if that was the 'verifying' stage but that process took about 30 minutes until the update was complete and the watch running again.
 
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