Copied from Vanessa's post at the Places forum:
productforums.google.com/forum/#!category-topic/business/vnJlxMRr87o

NOTE from Linda: the back end data flow frequently changes and I ask Jade to update the thread over there when there is a significant change to edit update times. So keep an eye out there and I'll try to also remember to post changes/updates here as well.

There have been a lot of questions in the forum lately about verifying new listings and making updates to existing ones, and we wanted to clear up some of that confusion. We’ve been doing some work on our backend, cleaning up the pipes in order to make more improvements to Google Places over time. Below are the typical turnaround times for updates you make in your Google Places account.

IMPORTANT - Because I pipeline is always changing and I may forget to update this thread.
Please always double check the post at the Google Forum link

Turnaround times for edits to Google Places listings

What will usually update in a few days*:

Newly verified listings (even though it reads “Active” in your dashboard)
This includes newly verified bulk uploads (and any attributes, as noted below)
(NOTE ADDED BY LINDA - It's now normal for newly verified listings to show
the "do not support location message" for up to a month.)


Business titles
Addresses
Phone numbers
Website URLs
Pin marker moves
Descriptions
Hours
Categories

What will take about up to two weeks:

Photos **Edit on June 14, 2012: Photos are currently taking about a month.**
Videos **Edit on June 28, 2012: Videos are currently not supported. **

What will update near instantly:

Post to your Place page (Update: should be posting instantly now)
(Edit from Linda - updates not working now until new G+ update is finished)
Offers coupons***

What will typically take several weeks to resolve:

Merged listings
Duplicate listings

*In the past, we've recommended you "poke" your listing to see if that instantly updates the information you see live on Maps. Note that pokes will no longer be instantly effective and can take a few days to process.

***I’ve heard a couple reports that some offers are taking a day or two to appear live on listings. Keep me posted here in the forum if you’re experiencing this.

Also, please note that reviews are not affected by these new changes. If you’re experiencing technical issues with the reviews on your listing, please see our Help Center for more information.

Edit: Hey guys, Jade here. Just wanted to note that during big updates or other unusual times, these turnaround times can be longer -- so please view these as estimations rather than guarantees. Thanks!


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Linda says - please post below if you experience anything significantly different.
Any data updating faster or slower than referenced above?