Hello los,
As has been mentioned before, you can't expect to perform at Pete's level when you are just starting out. And he actually Super Read and Dipped after he PhotoRead on the infomercial. I think that it has been said that Pete has been practicing this for about 15 years. Your skill level starting out should be about 3 times faster than regular reading.
Concerning the incubation period, the book says that you CAN start activating after a 20 minute wait. You don't have to wait a whole sleep cycle, it is just ideal.
I think that you might be misunderstanding the Super Reading and Dipping step. At this point you are re-stimulating your brain to connect with your unconscious for the info that relates to your purpose. This comes in layers through many passes, from whole to parts. YOU HAVE ALREADY BEEN EXPOSED TO THE WHOLE BOOK IN THE PHOTOREADING STEP!
Don't let your initial discouragement stop you from moving forward with this system. Remember the NOPS formula from the book. If you are trying to learn from the book alone, then I can see why you sound discouraged. I firmly believe that you need to at least get the home study course in order to learn this system. Good luck to you.