Estimated reading time in PHP, by Brian Cray

node.tpl.php

In Drupal 7: 

<?php 
  $postContent = render($content); 
  $word = str_word_count(strip_tags($postContent));
  $m = floor($word / 200);
  $s = floor($word % 200 / (200 / 60));
  $est = $m . ' minute' . ($m == 1 ? '' : 's') . ', ' . $s . ' second' . ($s == 1 ? '' : 's');
?>

<p>Estimated reading time: <?php echo $est; ?></p>

post.php

Brian Cray's original, for Wordpress: 

<?php
$mycontent = $post->post_content; // wordpress users only
$word = str_word_count(strip_tags($mycontent));
$m = floor($word / 200);
$s = floor($word % 200 / (200 / 60));
$est = $m . ' minute' . ($m == 1 ? '' : 's') . ', ' . $s . ' second' . ($s == 1 ? '' : 's');
?>

<p>Estimated reading time: <?php echo $est; ?></p>

Props

Total props to Brian Cray: http://briancray.com/posts/estimated-reading-time-web-design/

@mynameispj have you test this with WP Bakery shortcodes inclusion in post content?