In somewhat more detail: the working title is just that ("The New Book") and there's a full draft of just under ninety thousand words, or 300 pages. The story takes place in near-future Seattle. I'm in the process of incorporating early feedback from beta readers -- my agent and a couple of writer friends who kindly agreed to take a look at the manuscript.
How long will this editing pass take? Hard to say. I'm making slow and steady progress. In general I've found that where the creative process is concerned, that's what seems to work best for me -- not trying to rush things. Deadlines often require moving along fast, which can be both good and bad, but this time around I have the luxury of being able to take my time.
Which is not to say that I'm spending my days reclined on the couch with my back turned to the computer and my feet up, reading election news on my iPad mini and eating endless chocolate bars to help with the digesting of the election news. Just that getting the story to the level where it needs to be requires some thought as I edit the manuscript (Does this scene do its job of propelling the story along or should it be cut? Can I make that sentence snappier? Would a different word work better in establishing the world building of the story? You get the idea.) This past week I cut ten pages total, consisting of bits and pieces that were bogging down the early parts of the book. Yay!
Which is all another way of saying that, like with most things, it's worth taking the time to get it right.
There may still be chocolate involved.