i think it is quite hassle free. took maybe less than 1 day! but i guess it depends on your bank acct & location.
I don't remember PayPal depositing an amount into my bank account for verification, is that new or something? Linking is just as entering the account details but if you mean withdrawing, that would take anywhere between 2 to 5 business days.
As per my experience i can say that it will take maximum 24 hours to link your account but addition of the account is instant but withdraw will take some time
It generally done instantly when you add bank account but paypal will transfer small fund to your account and you should check it in your statement in order to complete verification so it will take 2-3 days