Character Creation Time

So far I am happy with the character creation time. Once I got the packet printed and bookmarked with tabs, finding the info was easy and the descriptions were just enough to say "I want that" or "No, not that." Granted, nothing will beat the Old School 1974 set for creation speed, but with 4e's ungainly approach to character creation, it's nice to see things trimmed down. So far so good. Took us about ten to fifteen minutes per PC going from the ground up, and that was including distractions.

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D&D Home Page - What Monster Are You? - D&D Compendium

Were your players experienced?  I'm working with all new players and I'm afraid it's going to take forever to do all the background stuff.  It's not much fun if your entire first session is just character creation!  Maybe I should pre-roll the characters...
For new players I suggest having them pick their blocks(class:scheme/background/specialty) and then use this as a basis for developing that background in RP.

Worked great for my newer players and for the ones that have trouble creating backstory on the fly.

Edition wars kill players,Dungeons and Dragons needs every player it can get.

It took about an hour and a half for my five players--one veteran and four relative newbies--to roll up their characters.  I thought it would be way shorter, but the playtest packet rules are laid out a litte awkwardly for character creation, and it is, of course, a new edition, a wide green field of new material to read and new possibilities to contemplate.

That time will shrink as players become more proficient with the edition, and grow as their arsenal of splat books to pick from grows more formidable.  So, if you ever really wanted to meet up for a simple dungeon crawl with basic, not-very-splatty characters, an experienced party might be ready in twenty minutes.  But just like the last few editions, when it's time to set the imaginations to work dreaming up memorable characters for a long-term campaign, you'll want to give the creation process a nice, long while.
Just finished up my first session with my players using the new character creation rules, 5 people in the group and though they were all quite experienced with 3.5 everyone aggreed that the generation was very simple and helped to form a framework for the backstory of a character.
I haven't been able to meet with my players face to face, but just understanding what the basics were they all created characters very easily. Even without knowing what much about the specifics people gravitated towards certain class styles. I didn't make mention of the requirements or restrictions and only one case of someone picking a weird combination that they don't have the prereqs for. Wizard guardian(because wizards can't carry shields).

My roomate picked up a print out I had and was able to create a character in 30 mins with Equipment. he doesn't even plan on playing. 
Ant Farm
My players are D&D experienced. I thought they might spend a bit more time looking at the backgrounds and specialties, but they seemed to read and grasp them quite quickly. I suppose a good part of what helped was that a couple of the guys prett much knew what they wanted, saw something that matched prett close, and went with it. As for the organization, yeah, I had to boost a bunch of post-it flags from work and make tabs marking the relevant sections for myself. I imagine a total newbie would take quite a bit of time no matter the system.