orodeshah - I had an identical case like yours. Full RQ post test. This was in Jul 27. On Dec 15, I became Canadian. It actually took only two months for my decision to be made. Now every case is unique, but the reason why I got an RQ was two fold: (1) I was unemployed for the first year of my PR (2) I did not declare a trip I made due to CBSA not stamping my passport on entry to the country (so in effect, I forgot about that trip).
For the first case, I gave mounds of documentation to prove I was here (statements, mobile phone records etc etc). For the second case, I was able to demonstrate that my passport was not stamped, and I wrote them a nice letter apologizing for the mistake. Lots of people told me that this would not help - but I spoke to a lawyer who said that CIC is quite forgiving in this respect.
So in conclusion, it is in your interest to complete the RQ. With the new structure in place at CIC, it should not take two years (in the past, it had to go through a series of three people culminating in a judge - now, it is just handled by one person, and only gets escalated if they feel it needs escalation).
So do it. If you want to see what I did for my RQ, read about it here: http://www.canadavisa.com/canada-immigration-discussion-board/missing-stamp-on-entry-to-canada-resulted-in-a-rq-t346474.0.html;msg4763118#msg4763118
Lastly, this forum is filled with people who have a grudge against CIC. So take people's advice, but also know that there are trolls out there. Good luck.