Assuming you did an "Extract and cache book information", there's a progress report being displayed live for that
(If there's another specific thingy related to the hash stuff, ignore me; as I've mentioned, we're not familiar with it. But the actual hash is extremely simple, so, no, the main bottleneck is going to be I/O).
Also, before anyone else gets a bright idea: the metadata browsing patch is a patch because it's still a WIP. Its intended use-case is, at the time of writing, to gather feedback from people with an actually sane & fully-fledged setup. Ideally people vaguely familiar with how KOReader works

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That also means that each iteration of it targets a *specific* version of KOReader. Do *not* take any liberties with that requirement.