Yes.  Delay for SEPA is up to two weeks, in most cases less than a week.  I also got some information from MtGox today: SEPA withdrawals are sent to the bank very early in the morning.  In practice you can expect it will be sent next business day at best.  Huge SEPA withdrawals (not to worry about unless you have trusted status) get lower priority unless the user inform MtGox in advance.