After nearly a month on a 4-drive RAID0 array…

time ~/osm/osmosis-0.40.1/bin/osmosis --rb planet-120401.osm.pbf --lp interval=60 --wd database=osm user=openstreetmap password=openstreetmap allowIncorrectSchemaVersion=yes 2>&1 | tee apidb.log
5-May-2012 4:27:02 PM org.openstreetmap.osmosis.core.Osmosis run
INFO: Osmosis Version 0.40.1
5-May-2012 4:27:02 PM org.openstreetmap.osmosis.core.Osmosis run
INFO: Preparing pipeline.
5-May-2012 4:27:02 PM org.openstreetmap.osmosis.core.Osmosis run
INFO: Launching pipeline execution.

...

1-Jun-2012 8:36:48 PM org.openstreetmap.osmosis.core.Osmosis run
INFO: Pipeline complete.
1-Jun-2012 8:36:48 PM org.openstreetmap.osmosis.core.Osmosis run
INFO: Total execution time: 2347785558 milliseconds.

real    39129m46.249s
user    1418m52.368s
sys     415m9.705s