As wraper said, it depends on lots of factors. Printing technology, resolution, model complexity, allowed maximum movement speed/acceleration. Even the direction can have a big impact.
Anyway, that 1cm³ approach has one major flaw, namely the infill. Some technologies will always produce 100% infill, but most tend to create an infill pattern.
So obviously the infill percentage will have a very high impact.
BTW: there are quite a few slicers freely available, so you can try out how long they predict for an STL model to print. Usually it takes quite a bit longer though, e.g. heating the bed and extruder is typically not included in the prediction.