PJ - It's not about the time, it's about the pH. Cheddar should drain around 6.1. So the rate of acidification and how long that takes very much depends on the strains of bacteria that you are using. The MA 4001 might be lower or faster. Depends on the age of the culture, strain variability, how much you use and lots of other variables. Some people claim to be able to look at a cheese and know what the pH is doing - not me. The only way to know what is really going on is with a good pH meter.
The cheddar should be around 5.3-5.5 at salting and hooping. These targets very much determine the outcome of the finished cheese. Low pH = drier, crumblier, with more of a bite. Higher pH = more moist, not as crumbly.