It has been a long time since I posted here, but I thought I would give a brief account of my experience so far as a sort of reassurance for others who are thinking about applying for citizenship! Long story short -- it only took a month for the application to be decided, and the ceremony will be in March.
A more detailed account follows.
I have been in the UK since 2004, first as a student. While still a student I married a Brit (2007), and when my original visa expired I applied for Further Leave to Remain. In 2009 I got Indefinite Leave to Remain, and decided to go ahead and apply for citizenship since I don't think I am leaving anytime soon and I would like to be able to vote here!

I used the Nationality Checking Service at my local authority (Newcastle Upon Tyne) and submitted the application on November 21. I had to wait about two weeks for the appointment with them, and I was nervous because I stupidly failed to double-check the dates I had been out of the country when I made the appointment, and the officer who looked over my application pointed out that I had been away on the 23rd of November two years ago. However, she assured me that the application would be at the Home Office the next day. This turned out to be fine, and I just got the citizenship invitation letter yesterday. It is dated 21 December, but we were out of town between the 29th and the 3rd.
So -- despite the scary-sounding six months quoted on the application form, it only took a month for me, even over the holidays. My case was pretty straightforward, but hopefully this can help keep others from freaking out over it.
Happy New Year to all!