DP, I transferred 1k TY points to Lifemiles to test how long transfer too. I did a new linking between my TY and Lifemiles account the the 1250 Lifemiles showed up about 15min after I did the transfer.
Assuming a bigger transfer takes same short time frame, this will be helpful to snag any lifemiles Biz of F award space that pops up over next 2 weeks.