I just went through this and received my card yesterday

Even though you currently have a PAL, applying for an RPAL is the same as applying for a new licence. You'll have a 28 day waiting period that will start on the day that they receive your application
Here's how long it took me...
Ontario
Restricted Pal
Course completed on September 9th.
Received stamped test results on September 28th.
Application sent "Xpresspost" on September 28th and tracking shows delivered Oct 1st.
Application is now online "Oct 28" and shows that it was recieved on Oct 1st.
Visa charged on Oct 28th.
Had a reference call in on Oct 30th.
Licence issued on Nov 4th.
Card in hand on Nov 16th.