It's not just an update - it's also server merges - that is why it will take 11 hours.
The size of the update is not that large - http://www.playonline.com/ff11us/pol...ews20643.shtml
Right now, SE are merging the servers. Once that is complete, then SE will upload the update to the servers."PlayStation 2" Version
Downloadable file size: 66.2MB
About 1 hour, 2 minutes
Windows Version
Downloadable file size: 104.3MB
About 8 minutes, 30 seconds
Xbox 360 Version
Downloadable file size: 110.3MB
About 47 minutes, 30 seconds
As for the patch notes, SE will not post them on the official website until they begin uploading the patch to the servers, to allow for any last minute changes to the patch notes.