We are trying to plan our current and future iPhone app releases. I see that the app store claims 95% reviewed in 14 days as of 11/20/2009. I know this is an estimate but I was wondering if anyone knew if Apple was working off of business days (M-f) or are they referring to calendar days?
We waited 10 calendar days to get into review today. I can only assume the 14 day estimate starts with today.
Only someone from Apple could tell you how they calculated that statistic, and it wouldn't matter anyway. There's no way for you to know whether your application will be approved in typical time, faster than typical, or lost in a tangle of bureaucratic red-tape for months (rare, but it does happen).
Apple refers to calendar days. I have had app updates and original submissions approved on the weekend. And if they were referring to business days, they would have mentioned that.
Assuming you mean that your review status changed today from "waiting for review" to "in review", I think that the 14 days started 10 days ago, so you may not have much longer to wait. (of course, you may not be one of the lucky 95%, or you may need multiple rounds of review, etc.)