I applied for the card on 28th May, then immediately went on two weeks holiday. When I got back there was no sign of it, so I eventually went online to check the status. There was a message that read something like "incorrect address supplied, claim timed out". (That of course was probably my fault.)
Anyway, I re-supplied my address and had an email back on 28th June saying "We are pleased to confirm that your application has been successfully validated and we will now endeavour to send your gift within the following 28 days."
So the whole process looks like it will have taken two months.
If timescales are critical, I'd be inclined to buy a card - it will always be useful to have a back-up. And issues with faulty cards will only add to the delay.
Mike
PS I have to say that the whole idea of having to claim a 'gift' is bizarre. Much more professional just to include the card in the box as they do in some geographies. Less work, less agro, less wasted time. Canon and consumers would both benefit.