I've been doing BIAB for several batches now. I find that with an iodine test it shows conversion within the first 20 minutes usually. I've been crushing with a two roller mill, the lower roller at about .024.
I also do a dunk sparge. It helped me take my efficiency up from below 80%. I think the dunk sparge really helps when crushing fine. The grains seem to hold a lot of liquid in with a fine crush. It didn't seem as necessary when I was using store crushed grains.
Another consequence of BIAB in my situation is that I loose a lot of efficiency to trub in the brew kettle. I usually leave about 1 1/2 gallons of hops, hot break, and whatever whirlflock settles out when I transfer to the fermenter. This brings my brew house efficiency back down to the low 70s. I've never used a conventional mash tun, so I have no way to compare the two.
The question I always wonder, is there any benefit of mashing longer anyway? Once i get the efficiency I'm looking for, (which is usually just under 90%) is there any benefit to a longer mash? More flavor? Other compounds? I've been doing the full hour just in case, but I'd love to shave some time off my brew days.