timber brained, the little double ended ones take about twice as long due to the shortness and just more work. Once roughed out and with nice stock you can comfortably make a peg in 60 seconds. If you can keep the pace up that is 60 in an hour, just don't stop. If you are not accustom to the drawknife you will get blisters at that pace. So it is a blistering pace. 50 is comfortable and so to answer your question, a couple of hour for 100. Break it up over a few days and it is fun as well.
If you have more than one person helping it can go quickly. You also don't need a complicated shaving horse. A simple horse can be made in half an hour, which means everyone in the shop can have one, and will give years of service.
I am working on some pictures of the plank wall system and geometric design of it as well. I will present it in another topic at some point.
Tim