I've been playing about 3 hours today... queued the whole time. Thus far I've gotten one match. Wait is about 20-30 minutes for each queue, but all but one 'not enough players'.
Odd. Must be a bad timeframe or not enough queues entered. I played for like 2 hours last night and usually within 5 minutes of queueing for 3 matches, one of them would always pop. I was generally queueing for 2 C&H and 1 arena, or 2 arenas and 1 C&H.