I think there are multiple issues the impact what the original questioner is asking about. Yes, the noise reduction is normally the biggest issue for the delay before writing to the card. The term "processing" though is a bit general. If you are talking about the amount of time before you can take another picture, you are discussing cycle times. Ignoring how full the buffer is, the cycle time is going to be affected by the in-camera processing PLUS the write time to the card. Some cameras will show significant improvement with a higher performance (faster transfer time) Compact Flash or SDHC card. The SanDisk Extreme III (SDHC) and Extreme IV (CF) are fast cards, for instance. When you get a real DSLR, there will also be issues such as whether you are shooting JPEGs, RAW or a combination (RAW +JPEG). The bigger the file(s) the longer it will take to write to the card (obviously).
But I agree that the noise reduction is the biggest single factor for the long cycle times on a long exposure.
To answer your question regarding battery life, a lot of DSLRs have the ability to accept an A/C adapter (if practical for where you are shooting). You can also get vertical grips for most DSLRs which allow you to double the amount of batteries you are shooting with. In any event, you will hopefully be using rechargables, so battery life isn't a huge concern anyway. My Pentax K200D takes AA size batteries rather than proprietaries, which is nice. You can get a couple of packs of Sanyo Eneloops and a charger and be good to go.
I highly recommend adding the Pentax K200D to the list of cameras you are considering. It's made to be good for people using their first DSLR, but also has the customization options that you can grow with for a long time. I'm pretty impressed with it so far, but have not yet tried long-exposures such as you are describing. Check out what people say about it in the Reader Reviews on Amazon. I think you'll like what you see when you compare features to the Rebels and entry-level Nikons.