I think they must be pretty much caught up at this point. I submitted my app online on Wednesday, Nov. 16. Got a call from Chase on the 17th to ask if I would be cool w/ moving some of my CL from other Chase cards to the new card. This is a technique I often use when applying for a card by phone. Said of course. The CSR suggested requesting a bit over $19K in new credit and moving other credit around to get the new card over $34K. I said fine and was put on hold.
A few minutes later he apologized and said it would talk a week or so to review the new credit request. I asked if we could expedite issuing the card by not requesting additional credit and just adjusting the CLs from other Chase cards. He said that would be fine. We moved $20K off of my IHG card (had been at $30K), and shifted another $5K from other cards. Card was authorized immediately. It shipped over the weekend and is arriving today. That's 5 days after the application was submitted.
Only annoyance was my inability to apply by phone initially (it's online only for this card), but the quick CSR call back meant this really wasn't a problem.