I applied for my H1B stamping (renewal with the same company) at the Chennai Consulate on 6/16/03 through the drop-box service (TTS) and received the stamped passport on 6/30/03. They (TTS) say it takes about 10 days to return your passport. Also, at the time when I used the service, there was a huge backlog of student visas applications. I believe they have changed their visa issuance rules as of 7/14/03. You might want to check the Consulate website for the latest information.
Let me know if you need anything else.
