The Producers time varies because Lane, Broderick, and Beach ad lib a lot and sometimes the show can run long. I had a friend who saw it the other day and it ran nearly 3 hours. When I saw it last week, I was in at 3 and out by 5:15.
Also, tickets to talk shows arent always "guaranteed seating". Its usually on a first come first serve seating arrangement and people have a tendancy to get there early and camp out. Its been awhile since I went to a tv taping, but of all the ones I've been to, there is no way I could have waltzed in right at the last minute and expected a seat.
Call it a regime change...