1. Depends on service center - anywhere between 14 months and 2.5 years. Moreover with additional security checks and everything backlong seems to be increasing.
2. Accroding to DOS(see
http://travel.state.gov/visainstructions.html, bullet 15) :
15. MAY WINNING APPLICANTS ADJUST THEIR STATUS WITH THE INS?
Yes, provided they are otherwise eligible to adjust status under the terms of Section 245 of the INA, selected applicants who are physically present in the United States may apply to the Immigration and Naturalization Service (INS) for adjustment of status to permanent resident. Applicants must ensure that INS can
COMPLETE ACTION on their cases, including processing of any overseas derivatives, before September 30, 2003, since on that date registrations for the DV-2003 program expire. No visa numbers for the DV-2003 program will be available after midnight on September 30, 2003 under any circumstances.
My understanding is that the caveat here is that unlike EB category, immigrant visa obtained through DV expire. In order for INS to adjudicate I-485, it is necessary that the immigrant visa is valid
at the time of adjudication, which means that DV applicant fully depends on when INS adjudicates the case, not when AOS is filed. I'm not entirely sure what SC processes DV-based I-485s though and what the processing times are.
