Just a datapoint from my two Expedia bookings:
My first booking (1 pax) done at 10:10a ET was confirmed in 5 mins and ticketed very quickly. I can also plug in the record locater on the ANZ website and select seats.
My second booking (2 pax) done at 1038a ET was confirmed in about 10 mins but still has NOT been ticketed. The message Expedia is showing me is as follows: "Your e-ticket is not yet confirmed. The airline will confirm most tickets within 5 minutes, but some ticket types can take up to 24 hours. Please visit your itinerary to see your updated ticketing status. You do not need to call us to reconfirm your booking."