5 minutes for the bundle spends files
3 minutes for bundle balance files
3 minutes for balance summary files
3 minutes for fastfind tables

At this point, it starts verifying all the bundles and creates a ledger file for all addresses, including p2sh addresses and brute force validates that against the calculated listunspent returned data. Without SSD this is a painfully slow process. But 90 minutes to the validation stage I guess is not so bad