7 gallons from 60-155 on 1500 watts is 68 minutes.
60 minute mash (or more depending on temps)
40 minute ramp time to boil
60 minute boil (or more with pilsner malts)
68+60+40+60 3 hours and 48 minutes with no goofs or messing around. I guess you run a pretty tight schedule.
Yeah, it would take me longer if I started with 7 gallons and 60 degree water. In the two batches I did this week with 6 gallons of starting water (for a 4.5 gallon batch), my water was about 86 degrees out of the tap. It'll be closer to 60 in the winter though.
I've been getting 2 degrees per minute, so my schedule is:
35 minutes to strike temperature (from ~86 to ~156)
60 minute mash
35 minutes to boil (from ~142 to ~212)
60 minute boil
So 3 hours, 10 minutes. Plus time for adding water to the kettle when I start, holding the bag over the kettle (after the mash) before turning on the heating element, etc. Then I immediately turn on my immersion chiller after the boil, and it gets about as low as it can go in about 10 minutes. Figure 10 minutes to drain it into the fermenting keg, and I'm somewhere in the 3 1/2 hour range, plus cleaning the kettle and chiller.
One thing that's not included is getting it down to pitching temperature, which would be the same no matter which heating element I use. With water this warm in the summer, my chiller only gets it to the low 90's and then I put it in my chest freezer (after draining it into the fermenter) for ~3 hours to get it down to pitching temperature.
It'll definitely take longer in the winter, especially since I'll be brewing in a 40-50 degree garage instead of an 80 degree garage.