At the moment, we are getting First Decisions to authors in approximately 24 days, median. Then there is typically a round of revision, which is up to the author to determine. And once the article is accepted, it normally publishes within 2 weeks.
As to the charges, you are correct that right now (through end-March 2014) it is possible to publish for free, provided you also submit your article as a PrePrint. More information on this offer is available on our blog.