I'm sure it's been said already, but in a nutshell, the processing time displayed on the CIC website for outland applications is accurate and up to date. What it means is that it will take about that long for them to get to an application, review it and react to it (make a decision). Following that the sponsor will receive a letter with the decision (which takes a few days depending where in Canada it goes).
As for medicals, they are valid for a year since they were taken. It is wise, if you're close to their expiry, to redo them before they ask (saves time). They will only issue a visa if they think it's reasonable that you will land before the medicals expire. In fact the visa will have the same expiration date (ours did).
Good luck to all,
torro