Hi Gerwin,
I can't give timeframes but I had a client who had 100+ property sites interlinked (nothing to do with my advice!) and these guys starting to see the sites with no other links in their portfolio get smashed for rankings. One was pretty much de-indexed and was not ranking for its meta title. I sent a re-inclusion request via Google WM tools and after around 5 weeks the site started to rank again. It ranked worse after the drops but I think you'll find that the rankings and traffic were won by an artificially inflated link graph so if you get a re-inclusion request filed and all is forgiven it will be lower down in the SERPs as the site should not have been so high in the first place.
Thats what happened to me anyway but how G react depends on how many other non-reciprocal links you have. When you file a re-inclusion request grovel and come clean. Thats what I did and it seemed to work.
Thanks
Bush