I got the lace edging done on the first side of the wool throw I resurrected from my WIP stash. It took just over an ounce of yarn and about 6 hours of knitting. I'm making an effort to keep track of how much yarn I use and how long it takes me to knit large projects like this. I kept track of how long each pattern repeat took and multiplied by 48 repeats, which came out to between 5 1/2 and 6 hours.
My gauge is slightly different, more open, on the lace section from when I last worked on it, but I don't think it will matter a lot after wet finishing.