Could someone please tell me the approximate time to generate an address that begins with 5-12 custom address.
You've already got a few answers (multiply by constant for each additional character), but if you plan on offering this as a service to others, you might want to take care of a few caveats. Note that the best way would be to check the vanitygen source and look at the actual code used, duplicating that in your service.
Caveat 1: Make sure you disallow the characters 'O' (uppercase 'o'), '0' (number zero), 'I' (uppercase i'), and 'l' (lowercase L), as they're not allowed in addresses. Make sure they know what characters their address should start with ('1' for Bitcoin), etc.
Caveat 2: Some prefixes are harder than others;
https://bitcointalk.org/index.php?topic=301068.msg7478542#msg7478542Caveat 2.1: Prefixes that are run-on digits of 1 are especially hard:
1AAAAA = 259,627,881
111111 = 1,099,511,627,776
Caveat 2.2: Some first characters are harder than others:
1 = 256
2-6 = 23
7-P = 22
Q = 65
R-z = 1,353
Caveat 2.3: Prefixes alphabetically (digits first, then uppercase, then lowercase) before the pivot prefix '1QLbz7JHiBTspS9' (it's longer, but this number of characters will do for practical purposes well into the future) are easier than those exactly on it, and easier still than those after it:
1QLbz5 = 259,627,881
1QLbz6 = 259,627,881
1QLbz7 = 837,596,142
1QLbz8 = 15,318,045,009
1QLbz9 = 15,318,045,009
There are some estimation routines - you can check out the javascript source for coinbit.tk for one example - but they'll all have edge cases where the estimation will be wrong by usually a factor 58 or 59, or some oddball number if it's on some other pivot (e.g. '1111G'). So while giving an estimate is fine, keep in mind that in some edge cases it's going to be wrong. That's fine if you're just doing it for fun - but if you're taking payment, it's better to be able to give an accurate quote (lest you take payment for something that is estimated to take a few hours, but then actually ends up taking weeks).