The Inspector's last word on the subject was that evidence submission will extend into early 2009. Then she and her team compile all the evidence, break it down into findings on individual aspects of the development (transportation; funding etc etc); they then present that plus their recommendation to the Secretary of State (Blears at the moment). That process can take as long as you want, depending on the complexity of the application. Mid-summer 2009 is the nearest hoped for conclusion to that process.
Remember though, that even on that optimistic timescale the council, in the event the application gets passed by the Government, will then have to apply for CPO's on housing affected by the development. That can (and as I understand, will) be challenged by residents, which could drag on and prevent a spade going into the ground for another two years (for example, LCC has just today been given the thumbs up for the second challenge by residents against CPO's on the Edge Lane 'Gateway' project...two years after it getting the nod initially).
Pull up a chair and take the weight off your feet.