The official line is that posts should be approved within 24 hours.
I can't speak for the other mods, but I get on every day and check things, so I don't see where that wouldn't be the case.
However, if you break a rule with a post and it's deleted, you may not get an alert if it's a minor issue.
On other more serious issues, you could get a warning or infraction, or be banned if it is a flagrant violation.
We generally assume that everyone reads the rules, but given how much moderation I have to do, I know that's only wishful thinking.
If something takes too long, send me a PM and I'll look into it.