Your not the only one who is having problems with the patching. This is something that i found on the TR forum:
Right click on the shortcut to the playNC launcher->add /AllowBits- (with the -) at the end of "target" (i.e. if your install dir is c:\program files\NCSoft\, the result shuld look like this c:\program files\NCSoft\Launcher\NCLauncher.exe /AllowBits- ).

Estimated time for me: 400min, i dont think that there will be any gaming tonigh