The iHES208 takes 31:47 to run a transfer rate test (TRT) on a 45.11 GB movie, using 8x speedpatched firmware. So my guess is that one hour would be 4x.
Although with my Pioneer BDR-205 and iHES208, it seems to take longer to rip with AnyDVD HD than it does to run a TRT, probably because extra processing is needed. I've never timed it though. Have you ripped more than one 50 GB disc?
Too bad it's 8x for BD-ROM DL, which is something like 80% of Blu-ray movies. Maybe we'll get an MCSE patch for 12x BD-ROM DL.