Thanks for your ethical advice than no one asked for!Some users have timelines on their signature, you can use it to get an idea, but so far anytime between three days and three weeks.
I've been on DIP since September 22 but a few already got their nominations, especially from the FWS.
You can do it, but once you receive your CoPR you're going to have to withdraw your application and IMO it's incredibly selfish to have two pending applications, especially if one of the is for the Master Graduates (the most competitive OINP Stream) just for the sake of having more chances. Many people are not eligible for EE and deposit all of their hopes on PNP programs, only to be taken away by people who don't even need nominations.
If you get an ITA, unless you're ineligible or mess up badly (which is difficult considering all the resources we have out there to ensure applications are complete) you'll get your PR on average, 14 months faster.
Selfish? Everyone is trying to find the best solutions for themselves to get their permanent residency. What is selfish about this?! If applying for two PR programs at the same time increases my chances of being approved by one, I don't see why not.