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There is no way to predict how long it should take to rebuild a new disk directory. It depends on processor speed, bus speed, drive speed, and the number of files and how many extents (pieces) they have.
What I can suggest is that you not attempt to rebuild the disk directory while the Macintosh is running from the bootable DVD. In such a case, virtual memory cannot be used, and no log files can be written. The entire new disk directory (Catalog B-Tree and Extents B-Tree), part of Mac OS X, and code from Techtool Pro must be able to be held in RAM or in a virtual memory swapfile.
You should create an eDrive on a USB memory stick or SD card of at least 32 GB capacity, formatted with a GUID partition map and a Mac OS X Extended (journaled) volume. Apple has instructions for reformatting the volume:
Mac OS X 10.5: Time Machine stops backing up to external disk. It is odd that the best instructions for changing the partition map scheme to GUID are in this article, but if you can remember this search string, it is not difficult to find:
Mac OS X Time Machine GUID
I suggest that before you attempt to rebuild the disk directory, you run the Surface Scan to check the drive for unremapped bad blocks. That process can be run using the copy of TechTool Pro on your usual startup volume, because it does not require unmounting the volume. The Surface Scan is a read-only test.