Hi Jeane,
My pleasure to share with you my experience!...I went to their makati office, spoke to the British consultant, he was very pleasant, helpful & supportive...actually I was the 1st settlement visa applicant who took the test, so it was like his practice test:-)....I visited Nov 26 straight off from the VFS office after realizing that I can't get away with it, so went back on Nov 30 (a day after this new ruling was implemented), I paid up front (cash) and took the test straight away!..I managed to finish the exam about 20-30 minutes, very basic, just daily conversation/grammar/expressions/correct word to use...I'm sure you can do it!!
But like I said in my post (if you have read it) that I wasn't fortunate enough to get my certificate as what have had promised, due to some reasons...hope this help! when do you intend to take it anyway?