Chasing a ring is the entrance fee for using the wonderful yellow osage heartwood. In time you will get pretty fast if you want to and have the wood to learn on. Some people enjoy chasing a ring and spend more time at it than I do. For me it's just another step in the process to execute. There was a time though, when I really savored that step. Things that slow down ring chasing for me are knots that have to be attended to and very tight rings. I try to be very fast, but with speed comes risk. Done fast, it's also great exercise, I call it bowmaking aerobics. I suspect there are several bowyers on the board who spend way less than 30 minutes chasing a ring on a reasonably clear stave. But this is not a race so it doesn't matter how long it takes. I just don't want you to swear off osage because chasing a ring is such an ordeal. In time and with practice, it won't be a big deal at all.
Justin, something I've done this year that really helps keep the stave in position is to use a strap to hold the off limb horizontal in the vise. Here's a pretty poor picture from my failed fencepost bow:
The vice by itself isn't all that effective at holding the bow in position when you're really cranking on it. The vice used with a strap on the limb end (red in the picture) holds it absolutely solid. You can really hog off wood with the draw knife when the bow is extremely solid in the vice. I don't use the band saw much any more because the draw knife is so fast taking off limb depth and width and it's because the bow is held so solidly.
George
