I purchased one of those 5 minute ceiling fans, and that's about how long it took, excluding going out to the barn to get the step ladder. Seriously, it's 2 screws, and 3 or 4 wirenuts. (And everything else just sort of snaps together.) While 5 minutes might be a bit of an exaggeration, I'm certain I was done in well under 10 minutes. I hate the fan though, or rather, the light kit. It uses those pita tiny socket bulbs. They burn out all the time & it's a pain to reach them to replace them. But, I did enjoy attaching the fan blades - why did it take so long for someone to invent that?! That used to be one of the worst parts unless you got lucky & never dropped one of the screws.
But... 2-3 hours? Ouch!