The process took 3 weeks total from resume submission to resolution. Recruiter sent me the same email as referred to by another reviewer (which is a template, yes, but that's ok, if you ask me. Just may be recruiter could have changed the template 'cause people already know about it and some may feel less ok about it than I would).
Same recruiter scheduled a phone screening later on, followed up by a hiring manager interview. While interviewing with the hiring manager, at the end of it, I asked almost directly if he thought I'd be a good fit for the position and heard that "they might find a place for me, may be not right now". So, I didn't press much to find out next morning from the recruiter that "the candidate they made an offer to earlier in the week accepted".
That's where I was not ok with it. May be some disclosure upfront that the offer is pending? I recall it used to be a standard practice to stop interviewing if the offer was outstanding. Unfortunately, common ethics are the thing left the past.