So one of the projects I've been working on and off again is the World's Worst x86 Decoder, which takes a principled approach to x86 decoding by throwing out most of the manual and instead reverse-engineering semantics based on running the instructions themselves to figure out what they do. It's still far from finished, but I've gotten it to the point that I can spit out decoder rules.
As a result, I feel pretty confident in saying that x86 decoding isn't that insane. For example, here's the bitset for the first two opcode maps on whether or not opcodes have a ModR/M operand: ModRM=1111000011110000111100001111000011110000111100001111000011110000000000000000000000000000000000000011000001010000000000000000000011111111111111110000000000000000000000000000000000000000000000001100111100000000111100001111111100000000000000000000001100000011111100000000010011111111111111110000000011111111000000000000000011111111111111111111111111111111111111111111111111111110000011110000000000000000111111111111111100011100000111111111011110111111111111110000000011111111111111111111111111111111111111111111111
I haven't done a k-map on that, but... you can see that a boolean circuit isn't that complicated. Also, it turns out that this isn't dependent on presence or absence of any prefixes. While I'm not a hardware designer, my gut says that you can probably do x86 instruction length-decoding in one cycle, which means the main limitation on the parallelism in the decoder is how wide you can build those muxes (which, to be fair, does have a cost).
That said, there is one instruction where I want to go back in time and beat up the x86 ISA designers. f6/0, f6/1, f7/0, and f7/1 [1] take in an extra immediate operand whereas f6/2 and et al do not. It's the sole case in the entire ISA where this happens.
[1] My notation for when x86 does its trick of using one of the register selector fields as extra bits for opcodes.