It's minutes. It was the same for me the other day so I just cruised the forums and watched some movies and it finally connected after a couple hours.
The guy said he was going to forward my issues to the technical department and I'm still waiting for them to email me.
My 3 issues:
1. The clan name profanity filter doesn't allow the word KILL.
2. I still hjaven't recieved founder status even though I preordered premium through PSN and activated it on the first day.
3. My real screen name can't post at the forums so I have to use this alt name.