This means everyone who buys a Yugo SKS and is tricking them out is breaking the law and I find it kind of funny because most post pictures of their tricked out yugo and if the ATF ever wanted to crack down their the bait for sure.
Not really. It's perfectly legal to modify a rifle that you bought as C&R to so that it no longer is C&R. It's just that once it has been modified, it can no longer be transferred as a C&R. For example. If you bought a Swede Mauser (in original condition) with your C&R, you could do whatever to it legally. Cut/crown, replace stock, drill/tap, etc. All legal. HOWEVER, once this had been done, if a C&R holder in another state wanted to buy it, they couldn't get it shipped right to them. The rifle is no longer C&R. No problem with you having it though.
BTW, you might want to reconsider having your modern rifles logged in. Your bound book is for C&R acquisitions, and if you log in modern rifles, if you're audited it may look like you were using your C&R to acquire non-C&R items (which is illegal). When I got my C&R packet they gave me a seperate sheet for keeping track of all of my guns in case they're stolen (it wasn't nearly as detailed as the log book. Just Name, Model, Serial No. I believe).
Oh yeah, as to original question (time to get the C&R), it took me about 7 weeks.