GPSfix is usually done in some seconds. If I have moved several hundred kilometers and not used the GPS in several days it takes some tens of seconds. It's pretty fast and accurate, but you have to have either wlan or mobile data connection on for AGPS. Witout network connection it takes very long time.

Battery life depends much on your use. Usually in my daily use the battery holds about 16 hours. But in very light use I have had 4 and half days usage. And in very hard usage the battery drains in 8 hours (but very seldom).