Several clocks hide inside 'how long did it take?' Time to first partial is when the HUD lights up. Time to final is when injection happens, after endpointing, decoding, and cleanup. Cloud engines add network round trips. On-device engines add model load on a cold start. Real-time factor ignores the network and asks only whether five seconds of audio cost more or less than five seconds of compute. An RTF of 0.2 means those five seconds were decoded in about one second of processing, all else equal.
Short dictation bursts care about a different budget than an hour-long file. A model with excellent RTF on a GPU can still feel slow if you pay a fixed startup cost every time you tap the hotkey. Batching 30-second chunks, as some Whisper-style pipelines do, makes long audio predictable and short audio less snappy. Hardware matters: a Neural Engine or a large CPU can change RTF more than a software toggle. Measure on the machine you own, with the engine you actually select.