Depends on the number of civs you've selected bro. I'm currently playing the 31 AI civs map and am in the ME era. Turns are approx 30-45 sec wait time on my mid-range HP. Considering the content and overall size of the mod, this is an acceptle wait time. Late game wait times ( industrial and above) can avg about 1-1:30 min depending on number of civs, barbs, and small kingdoms left on the map. But considering that I play on the "realistic" setting, I don't see that as a major issue.
The overall mod and all of it's great content are well worth any long wait times I might incur. Btw, if any of your RI gods are in the house,
As for civ V's poor excuse to handle navy, I agree with brian. The current method of "embarking" speaks volumes of the designers total lack of understanding ( or even possibly caring?) of how vital a navy truely is to any kingdom. If I wanted cheese in a game, I'd order a pizza. And this aspect of the game is epically cheesy.