I just did my second re-wrap job on my road bike and it looks awesome (if I do say so myself!). I am pretty picky, so I'd say the whole project took me 40 minutes or so. I used Cinelli cork tape this time and it's harder to wrap than the Bontrager tape I used last time, so I ended up unwrapping and rewrapping a few times before I was happy the results.

I actually think it's kind of a fun project...I think you should try it out!