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From the bit of driving I've done I haven't noticed a much longer warm up time, but I don't have any data to back that up. It's possible it's longer but for the typical driving I do it hasn't made enough difference to notice so far. Once the engine is warm though, the oil temp has almost perfectly pegged the coolant temp, sitting 185 -195 F.
The basic mechanics suggest the oil isn't being warmed until the coolant comes up to temp, but once the coolant is hot and opens the thermostat, the oil is then warmed and quickly matches it (from my short experience). I think depending on the ambient temperature and how the car's being driven (both speed/air flow and engine load) the oil warmup may be slower or faster than without the cooler. We'd need some pretty thorough test methodology to really understand all of the variables.
I personally think in the majority of cases it's probably not a large enough difference to worry about.
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