Yes, 5-10 mins per guy would probably be ideal for many with a half dozen or more guys. Ideal is hard to find sometimes. I've seen the Mrs take a guy from soft to popped in 90 secs, and that was just from a BJ. She has done that more than a few times. Also common is the guy that wants the never-ending BJ and doesn't get or stay hard long enough to fuck her. Neither is of course ideal, but does unfortunately tend to be more of the norm at an "amateur night" type party.
Just like everything else, everyone is different. I've seen women that want to be pounded for as long as a guy can last, and others that prefer something more rapid fire, and everything in between. Many people envision stuff like this as a classic gang-bang. Though that "could" happen, much more common for us is where the Mrs will play with 2-4 guys for 30-40 mins, take a break, then do another round or 2. It's more like 1 - 2 hours of play time in a 3-4 hour window.
The after effects are definitely awesome. We've come home from parties where the Mrs has had a multi-guy experience and not even made it in the house. She once literally kicked the car door open in the driveway as soon as the car stopped, spread her legs and said, "Do me!!!" right there in the driveway...lol Then more sex when we got to bed, and the next morning and night for up to a couple days afterwards.