Latest we heard is 12 - 18 months in reality for most people. I suspect that the various medal companies that advertise in soldier etc will be selling full sized replicas long before then. That is normally the quickest way to get one.
The 'new and improved' Joint Medal Office is being floated around the bazaars as well. Current distribution of Op TELIC medals is around 300 per month for the Army - the Joint Office can only slow this process.
At this rate, it will take nearly 9 years to cover those people who deployed on Op TELIC alone, let alone TELICs 2 - 100+
If you take that line my friend you won't be wearing it for years. If your unit has submitted your name on the medal roll, then you are entitled to wear it. Plenty of people are wearing the minature already (have been to a couple of mess functions where the majority were wearing it)