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All blood donations are processed and available for use usually within 24 hours. Whole blood is processed into components (red blood cells, platelets, plasma). After processing, the red blood cells can be stored for 42 days.
You don't just donate until you dry up. If someone could answer how long it takes for the blood to replace, that would be great as I do not know the answer to that question myself. I do, however, know that blood does regenerate. The fluid component of the blood (plasma) is replaced in approximately 24 hours provided you remember to drink enough water. The red blood cells are replaced in a few weeks-one study performed recorded an average of 36 days, with a range from 20 to 56 days in the volunteers. Obviously a diet containing iron will help improve recovery time.