Just did it with my dad.... I did the 145km in 5 hours (Well with a cofee and food stop but I won't count that... ) He did the 60km in 2 hours.
I started at about 7:30 (with 3000 other riders) and came in about 1pm.
Day started off cold and a little windy, after 30 mins it started raining intermittenly, the pace was 'fast' from the get go - couple of groups were doing 40/45km/hr on the flat from the get go .
found it hard to get 'settled'.. because invariably in these huge groups, I would be behind slower riders, and then 1/2 of the group had gone off, and it was too hard to catch the breakway... However, the first couple of hours were pretty uninteresting, I was just in my own little zone. Stopped for lollies and a enengry bar and a pee- pretty hard with bib knicks ha ha
Deans Marsh came up, and I found I could climb way better than a lot of people.. Not sure how steep it was, but it didn't seem to go for very long ... A highlight were the 'devils' on the road .
The descent was fast - probably went a bit overboard - avg 55-60 km/hr down there... fun

Had a coffee in lorne ate some more, chatted to a few randoms..
The ride out from Lorne was stunning along the great ocean road -...It was fairly flat as well, so that was nice...
At about the 95km mark i was averaging about 33 - which is good for me ... But after then it got harder and harder, the last 10-20 km seemed to take forever... Got there in the end though...
Saw a lot of stunning bikes - a lot of Pinarellos etc Lots of Carbon wheels...
Positives
The energy bars and lollies
The friendly staff
Negatives
The price i think it was 160 ... But meh.. Also we paid for accomodation in Geelong...
A lot of riders on the road...