How long until I rank?

I created my site in the beginning of August of this year (2010). It is now about 1 month later, and I am still unranked by Google.
The current top 3 ranking sites in my niche (my competition) have:
*567 backlinks
*264 backlinks
*27 backlinks

My site currently has 69 backlinks. By the end of this month I hope to have around 200 backlinks. ALL of my backlinks are from PR3 sites and Higher, nothing lower and include .com/.org/.edu/and .gov domains. Most of them are .edu backlinks.

How long will it take Google to rank my website, and will my website rank high if I continue to do what I am doing?

Responses are greatly appreciated.

1 month is not a long time. Keep steady in your link building and you should start seeing results soon. Your site is indexed already right?

Keep in mind, ranking is not just about backlinks though. Have strong onpage and keep the content freshly updated and you should be in good shape.

Yea, It's indexed. I update the content once or twice a week. Is this enough? or should I be updating content every day?

try to update it every 2 days if you can and ceep adding backlinks.

You should see results soon

Also, bookmarking sites usually increase the indexing speed a lot, as well as submitting a sitemap to webmaster tools.

Just continue creating backlinks for your sites then to make sure they count, run them on indexing scripts like BIE or BE and back it up by creating rss feeds and sending them to rss aggregators.