Yes. I ran real world numbers. Before getting a result you still have to download on average ~20 pieces (32KB * 20 = 640KB). With healthy swarms and a 500kb/s connection you should get results as soon as ~1 second.
What bothers me is that you've rounded the time down in your calculation despite ignoring throughput factors like packet overhead, piece message metadata, other protocol messages and processing time. I'd be interested to see some real time measurements. If you decide to do it (maybe for a research paper?), consider using kibis explicitly (and mind capitalization - b vs B).