I had heard they had fixed the time but my son and I were on Boori and we watched a gleambow meteorite land over a hill real close to us, took us less than 45 seconds to get to it and it had already turned to tangle and had gleam in it. We got two orts and I got a gold ore and my son a iron one.
I think the timing should be much longer and the tail should still be able to be seen, it is white and hard to see in the clouds so you lose the location of the meteorite when you go over a hill or have to dodge a mob of critters.