The most amount of time it ever took me?....oh man, I'm not sure. We all have a point when we don't know for sure what we are doing.
Nowadays it takes me a 1/2 hr to do a set-up on a guitar, regardless of floating trem or a set bridge. That is a genaralization of course, but assuming that everything else is in good working order, If I only had to change the strings, and balance the trem, were only looking at 15-20 min.
Of course it takes me forever to do what others would call simple maintenance on my car, while I have friends that would get er done in minutes.
You'll get faster at it as you do it more...also it looks like you have the new ZR trem on the orange Ibanez....I like those things....they are easier for the novice and pro to set up.
The most important thing to remember with "normal" or "older" Floyd type units is to give equal turns to the pivot screws, about a 1/4 to 1/2 turn, and the tension screws that are connectect to the spring claw...usualy 1/2 to 1 whole turn, and continually re-tune the strings to pitch every time you make an adjustment.