It took a couple hours to mold about 20 pages and only about half of them were decent enough to dry out (the others have been returned to the pulp bucket). Of the ~10 "survivors" three are still pretty soggy that don't show any sign of drying over the past 2 days. I'm still experimenting with different approaches towards the drying situation. It seems like the paper needs to be left unrestrained to dry but it needs pressure to prevent warping and the two are not compatible.
In the meantime, I have a paper that feels nice, folds cleanly, and even looks pretty nice. All the bits of ink and additives in the source paper seem to clump together (magnetism maybe?) and you get these wee specks of color that stick out against the nice, neutral gray of the paper. Mixing newsprint and printer paper pulp works so well I'm having second thoughts about trying to use hydrogen peroxide to adjust the color.