To follow up, I dusted off my book on this and did a quick google and it agrees with this wiki page:
http://en.wikipedia.org/wiki/Wave_propagation_speed
Round trip delay (propagation, so ignoring everything else) is around 0.0532seconds (53ms) to New York from London.
If we take a look at other factors that add delay:
We have serialisation (the time it takes for a packet to be put on a link and it depends on the speed of the link, the size of the packet and is additional for every hop the packet has to transverse. IP header is 20 bytes, add on a the ICMP header, 8 bytes and then the ICMP payload (windows default is 32) we get 60 bytes divded by the link speed (lets say 1Gbps for each hop) and we get 0.00048ms for each hop (minimal).
Queuing delay can be quite high and is variable depending on network congestion and QoS policies. This is where most of the extra delay will be from.
Forwarding Delay (what I believe you are referring to as router processing delay is the time it takes from when the packet leaves the input queue and enters the output queue. These values are rarely quoted but are micro seconds in time (0.0001ms).