33 minutes for a simple scene with basic geo and materials is way too long. What machine are you rendering on?
As darthviper suggested, make sure you are utilising a linear workflow for the best results. Physical lights(photometric/light portals) Physical materials(A&D) and MR photographic exposure control.
And yes, refraction does add to render time but it is best to leave the refraction bounces to at least enough to give realistic results. So, if your glass is solid geometry then the light has to have a high enough refraction setting to pass through the surface of the glass as many times as it needs to in the calculation, or else you will encounter artifacts.
The example below shows light refracting through a glass, reflecting of a mirror surface, and refracting back through the glass again.