Typical app approval process over at Apple iTunes Connect runs 4-5 business days most of the time. However recently I have seen a huge increase in the delay for app approvals. This could either be due to a increase amount of developers re-releasing their app to support iOS 6 or the new screen dimensions of the iPhone 5.
The current approval time frame is: 8 days!
Currently the iOS app approval process is very delayed, so expect and plan on the extra time it will take you to get approved.
I submitted app on September 12, 2012 08:17 (Waiting For Review) and it was just approved on September 20, 2012 15:48 (Ready for Sale). I typically submit new apps every 48 hours, so I will keep you posted on these delays.
Adrian K. – Apps Las Vegas