I have several domains with Namecheap and now I see they have launched their hosting services as well. I am just wondering if anyone have hosting with namecheap? Could you, please, share your experience with their hosting packages? Actually how long does it take to transfer web site from one hosting provider to another?

The nameservers propagation can take 48 hours, possibly even longer to truly complete. It's mainly the ISPs that make it last so long, due to caching.

You should be able to find a number of reviews on Namecheap's hosting services if you do a search over at webhostingtalk.com, in the "web hosting forum".

That must be clearly stated in their legal documents.

For example in Enom they say that the dns propagation can take up to 72 hours,but usually 2-3 hours are needed to complete the propagation procedure