I did my transfers yesterday. My first account finished in about 15 minutes. The second account transfer was not finished after four hours then Arkenstone server crushed. I had to leave home for Toronto, by the time I got back about midnight everything was up and transfers complete.
If any of you have name holder characters in Arkenstone, I suggest you don't delete the characters before transferring over. Do the transfer and get your -1 name and let it settle for a few minutes. You will be given a name change option. It is not an inventory item but appears in notifications. Log out and delete your place holder (don't delete the wrong guy) then quickly log back on the -1 character. Use the name change option to rename yourself. This worked for me and I feel it is safer then deleting the character before transfer.
Good luck