A clean build of the Linux kernel can be very fast, but the config is very relevant. A custom build specific to your hardware will touch only a small fraction of the overall kernel tree, whereas a generic build including a large swath of hardware will take much longer.

(AFAICT there's no easy way to measure the LoC actually compiled - but one rough way to estimate it would be to take all the .o files listed in the build process and count the LoC in the corresponding .c files and the .h files they depend on).