I had to have my degrees assessed, too. If I recall correctly, it did take approximately the 20 *working* days to complete, plus the transit time back and forth. However, my degrees were from accredited US universities, so there was the additional step (which actually makes things easier) of verification of the degrees through the clearinghouse. That part was done via e-mail and was completed within 24 hours.
I did send originals, as requested. I, too, was nervous about sending my original diplomas, but they came back in the same condition as they went out. Bear in mind that you'll need to send them with your ITA, too, so get used to the idea. ;)
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EOI Submitted: July 20, 2006
EOI Selected: August 2, 2006
ITA Received: October 12, 2006
ITA Submitted: February 2, 2007
Migrant Levy Paid & Visas Shipped: June 6, 2007
Arrived in NZ: July 26th, 2007
Leaving NZ: June 1st, 2008
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